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Legal News | 14.03.24

Time for springing into action!

Spring is well and truly upon us, the trees are in full blossom, daffodils and other spring bulbs are in full bloom, and the clocks are due to spring forward on Sunday 31 March marking the beginning of British Summer Time, resulting in earlier daylight hours.

Would now perhaps be a good moment to take some time to consider reviewing your Will?

Here at Wansbroughs we recommend that our clients review their Wills every five years to ensure that they correctly reflect their wishes and their family circumstances in the event of their death.

Below is a non-exhaustive list of the most common reasons to review your Will.

  • Has there been a change in your family circumstances, such as a birth, death or marriage in the family?
  • Has there been a change in your medical circumstances, have you recently received an unwanted medical diagnosis or perhaps more happily received the ‘all clear’?
  • Is your Will over five years old?
  • Has anyone who is mentioned in your Will since died?
  • Has anyone who is mentioned in your Will married, formed a civil partnership or divorced?
  • Has anyone who is mentioned in your Will either had a child who has died or had a further child or children?
  • Have you changed your name or has anyone who is mentioned in your Will changed their name?
  • Has an executor named in your Will died, become unable to act as your executor or no longer wishes to act as your executor?
  • Have any property or gifts listed in your Will been sold or disposed of or do you wish to alter the gifts listed in your Will?
  • Have you married, formed a civil partnership or divorced?
  • Has the value of your estate increased or decreased considerably (failure to seek professional advice may have tax consequences on your death).
  • Do you wish to change any of the beneficiaries named in your Will or change the gift(s) which you leave to them?
  • Has one of your beneficiaries been involved in an accident and lost capacity, perhaps their share of your estate could be left to them in such a way that it still benefits them without impacting any means-tested government benefits that they may be receiving as a result of their accident?

If you wish to make a new Will or review your existing Will, please do not hesitate to contact us here at Wansbroughs.

 

Posted By Our Wills, Tax, Trusts & Probate Team