Having an up to date Will is essential to ensure that your assets and belongings go to the friends and relatives that you intend after you die. One of the main reasons to update your Will is to help both you and your family avoid complex and drawn-out legal disputes further down the line.
To give an example of the importance, a Will is automatically revoked if you get married unless there is a clause in the original Will that references a forthcoming marriage. The direct consequence of this is that a failure to update an existing Will before marriage, or create a new one after, will lead to an invalidated Will that falls under the rules of intestacy.
When should you update your Will?
You should review and update your Will every three years, unless your personal circumstances change in which case, you must update your Will as soon as possible. Some examples which commonly result in the need to update your Will include; having children or grandchildren, marriage, seperation from a spouse or civil partner, buying a house, if a beneficiary named in your Will dies, a change in your relationship with a beneficiary or a charity named in your Will, your financial situation and moving to a different country.
Graham Colley Solicitor specialise in Wills and Probate. Based in Rochester covering Medway, Maidstone and the wider Kent area, offering both in person and Zoom consultations. Contact us today to arrange a convenient time to discuss your Will and Estate plan.