This week marks Update Your Will Week, running until 8th March. A timely reminder that making a Will is not a “once in a lifetime” exercise.
Many people feel reassured once their Will is signed. However, life rarely stands still. Marriage, divorce, the arrival of children or grandchildren, changes in financial circumstances, business interests, property ownership, or even shifting family dynamics can all impact whether your existing Will still achieves what you intend.
In fact, under current law, marriage automatically revokes a Will unless it was made in contemplation of that marriage. This often comes as a surprise and can have significant consequences if not properly addressed.
Even without major life events, tax rules, asset values and personal wishes evolve over time. Regular reviews help ensure:
- Your chosen executors are still appropriate and willing to act
- Your beneficiaries reflect your current wishes
- Guardians are appointed for minor children
- Your estate is structured in a tax-efficient way
- Trust provisions remain suitable
- You have considered capacity planning alongside your Will
As a general rule, we recommend reviewing your Will every 3–5 years, or sooner if there has been a significant change in your circumstances.
At Gepp Solicitors, we specialise in Wills, Lasting Powers of Attorney, Trusts, Estate and Tax planning. If you are unsure whether your Will still reflects your wishes, ‘Update Your Will Week’ is the perfect opportunity to review and reflect.
A short review now can prevent uncertainty, delay and unintended consequences for your family in the future.
If you would like us to review your existing Will, please get in touch with our Private Client team on 01245 228125 or email privateclientenq@gepp.co.uk
