A professionally written, current Will is one of the most important documents you are ever likely to make.
It’s a common misconception that once a Will is in place, you don’t need to think about it again but unfortunately this is not the case. It is inevitable that your circumstances will change throughout your life and if you have not reviewed your Will for a long time you may find it is no longer appropriate or even that it has become invalid.
We generally recommend you review your Will every 3-5 years or sooner if your situation changes. Common examples of situations where you must review your Will include:
- If: You retire
- Your spouse or partner passes away
- You have a new child, grandchild or stepchild
- You marry or enter into a civil partnership
- You get divorced
- One of your beneficiaries/executors passes away
- One of your children gets divorced
- The value of your estate increases/decreases substantially
- You emigrate
- You no longer want to make provision for a beneficiary listed in your Will
- You no longer own a specific item listed in your Will
- You acquire property abroad
- You buy or sell a property/business
It is also advisable to review your Will if there are any changes in the law to ensure it is as effective as possible.
Even if your circumstances stay the same, it’s still a good idea to revisit your Will to ensure it accurately reflects the way you want your estate to be distributed after you pass away.
Making a Will can be a daunting task but at Peter Robinson & Co we make the process as straightforward and cost effective as possible. Whether you need help writing your Will or just need guidance on making the wider decisions to help protect your beneficiaries and estates then get in touch.
The experienced team at Peter Robinson & Co. are able to advise on all aspects of Wills and Probate.
If you’re thinking about reviewing your Will, please call Peter Robinson & Co. now on 0161 678 7996 for assistance.