When should you update your Will?
Posted on 7th March 2019
Your local solicitors for Wills, MG Legal, understand that it can be hard to know whether your Will is still valid after a life-altering event.
However, not all events call for you to make changes to your existing Will. As our solicitors in Preston would explain, if you do not have a Will in place already, we would recommend booking in with our solicitors for Wills to discuss making a Will – we currently have an offer of Wills for £50 plus VAT (until 20th March 2019).
So, without further ado, here are some times you should consider re-visiting your Wills:-
When Purchasing or Selling Property
First of all, if you are only moving address (and no other circumstances in your life have changed), you do not necessarily need to change your Will. The address in your Will is normally your current address at the time of signing, and your Will would still be accepted following your death.
However, if you have never had property before and have managed to get yourself onto the property ladder (which isn’t always an easy feat now-a-days!), or if you owned a property which you have now sold, it is a good idea to re-visit your Will and check how your sale or purchase could affect any clauses contained within.
Following the death of a loved one
In some cases, such as when your loved one is not included in your Will in the first place (for example a friend that you have not included, or an uncle, aunt, etc), you may decide that it’s not worth updating your Will.
On the other hand, your local solicitors for Wills would recommend updating your Will if a named beneficiary passes away. Now, it’s important to note that after reviewing your Will with your solicitors in Preston, you may decide no changes are required. Or, you may decide to completely amend your Will and start from scratch – your choice will probably depend on the part your loved one plays in your Will.
After having a child, or more children
It may not be on the forefront of your mind, but following the hours spent in labour, it’s now time to bring your little one home. And, it’s a good idea to look at your Will, too.
Whilst the Rules of Intestacy would provide for your children in most circumstances anyway (i.e. if you do not have a spouse or your estate is above a certain amount), which you can read about on local solicitor’s for Wills blog here, it is a good idea to ensure that your children are included in your Will, if you would want them to inherit from your estate.
So, if it’s time for you to re-visit your Will and you want the expert advice of your solicitors in Preston, give us a call on 01772 783 314, or email our team at enquiries@mglegal.co.uk.
MG Legal – Your Local Solicitors
for Wills
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