November 24, 2022

The importance of updating your will

This post was written by: Laaibah Bhatti

A will isn’t something you can set up and forget. At Aston Bond we want to inform you on the importance of keeping it up to date…

In order to guarantee your estate is managed properly when your gone, your will needs some care and attention to remain current and updated.

Here are some of the most common reasons for updating your will:

  1. If you or anyone mentioned in you will changes their name, it is important to let your solicitor know. Likewise, if an executor or beneficiary dies or becomes unable to act, your will needs amending.
  2. If you marry or enter a civil partnership after your most recent will was drawn up, it will be automatically revoked, unless you included a clause referencing subsequent marriage.
  3. Your children may have become adults since your will was made. They no longer require guardians and could be suitable executors.
  4. The laws relating to inheritance tax change regularly and it is important that you continue to achieve your tax objectives and maximise exemptions and reliefs.
  5.  If you have bequeathed a specific property, which you subsequently sell or give away, you should remove it from your will.

To find out more about making or updating a will, please contact 01753 486777