Legal News | 22.01.26

New Year, new priorities?

The start of a new year naturally encourages us to take stock – many of us have been reflecting on the year that has passed and focussing on what could be improved. Typically, this results in a renewed focus on health (hello, busy gyms!) and of setting resolutions, but whilst these ‘new year, new me’ traditions tend to arise in the same way each year, there is something that may not be the same year in, year out – your life and circumstances.

The new year can be a great opportunity to assess the things that have changed over the past year and consider whether your existing arrangements are still fit for purpose. Some key life events which may warrant a review of your Will include:

1. Changes in relationships

Major relationship changes often mean that your wishes for your estate change, too.

• Marriage or civil partnership revokes existing Wills, unless those Wills were specifically drafted in anticipation of that marriage or civil partnership. You should ensure that you still have a valid Will in place, and that your Will caters for your new spouse or civil partner.
• Separation or divorce can naturally impact who you would like to benefit from your estate and may also affect your choice of executors.
• New long‑term relationships or blended families may mean you want to protect both a partner and children from previous relationships in your Will.

2. Growing families

Your Will should adapt as your family grows or changes.

• New children or grandchildren may need to be added as beneficiaries.
• Updated guardianship choices may be required.
• If a beneficiary dies or becomes vulnerable, it might make sense to review how they are treated under your Will and you may wish to remove them as an executor or trustee.

3. Property moves or financial changes

Significant changes to your wealth and assets might impact your wishes.

• Buying or selling a home or other major asset may result in a previous legacy of property no longer taking effect (depending on how such a legacy was drafted in your Will).
• Receiving an inheritance, forming a business, or changing your investment profile may require a review of beneficiaries or tax planning.
• If you now own property overseas, you may need to consider how different jurisdictions interact with your Will.

4. A change in priorities

Of course, circumstances can change even without a major event.

You may feel differently about making charitable gifts. As children grow up, become independent, or face new challenges, you may wish to consider lifetime gifts, which may well impact their treatment under your Will.

If your circumstances have changed, your Will may well still be appropriate (we at Wansbroughs often recommend a Will structure having looked at the broader picture, to hopefully stand the test of time). However, your Will may also reflect wishes that no longer stand. We recommend reviewing your Will every 3 to 5 years – or sooner if any major life events occur — and the new year is the perfect opportunity to do just that.

If you think your Will may require an update, please do get in touch with your usual contact at Wansbroughs or email us at wealth@wansbroughs.com.