It is advisable that you review (not necessarily change) your Will every one to two years or whenever there is a major change in your circumstances.
• The birth of a child – you may need to appoint guardians in your Will.
• Marriage or intended marriage – your Will is automatically revoked on marriage and is no longer valid, unless you have specifically provided for this in your Will.
• Divorce or separation – Your ex-spouse will be treated as having died for the purposes of your Will. It is best to make a new will immediately after your divorce, especially if your spouse or civil partner was a beneficiary or an executor.
• Acquisition of new assets e.g. a property – this may have an impact on your inheritance tax liability and your Will may need to be re-drafted in a more tax efficient way.
• Death of anyone named in your Will e.g. executor, guardian or beneficiary.
You can change your Will as many times as you like. When you make a new Will your old Will is automatically revoked. If you would like to review your Will please contact a member of our Private Client team who will be happy to advise on whether a change is necessary and if so, to assist.