Update Your Will Week: Why Now Is the Right Time to Review Your Will

A Guide to Writing a Will by Gardener Leader

This week marks Update Your Will Week, in conjunction with The Association of Lifetime Lawyers. Their research shows that 49% of adults do not have a Will in place. A further 1 in 10 adults in the UK have started making a Will but have not finished the process.

A common misconception is that simply writing down your wishes is enough. However, there are strict legal formalities that must be followed for a Will to be considered valid.

Why Making a Will Should Be a Priority

Many of us know that having a Will is important, but it is often pushed down the list of priorities. Update Your Will Week is a timely reminder to put the right plans in place.

If You Do Not Have a Will, the Intestacy Rules Apply

If there is no valid Will, your estate will be distributed according to the Rules of Intestacy. This means your wishes may not be followed. Instead, your estate will be divided based on your family structure and the value of your estate.

If you are unmarried but in a relationship, the Rules of Intestacy do not allow your partner to inherit. Even for married couples, the outcome may not reflect what you would have wanted. Preparing a Will tailored to your own circumstances is the best way to ensure your wishes are respected.

A Will Lets You Appoint Guardians and Executors

If you have children under the age of 18, your Will allows you to name:

• Guardians, who would look after your children
• Executors, who would manage the money and estate on their behalf

Without a Will, these important decisions may be left to others.

You May Wish to Protect Your Estate Through a Trust

A Will can also help you put arrangements in place to protect your estate or support specific beneficiaries.

For example, you may wish to:

• protect assets for children from previous relationships
• provide for your spouse or partner while preserving funds for other family members
• support a child or beneficiary with additional needs who may find it difficult to manage money independently

A trust can provide reassurance that your estate is handled in the way you intended.

Why You Should Review an Existing Will

Even if you already have a Will in place, it is important not to become complacent. There are several commonly missed situations where a Will should be reviewed, and failing to do so can have serious consequences.

Marriage Can Revoke an Existing Will

If you have married since your last Will was written, that Will may have been automatically revoked by your marriage (unless it specifically states otherwise).

This often comes as an unwelcome surprise. Once the honeymoon is over, it is wise to review your Will as soon as possible.

Changes to Your Assets Can Affect Gifts in Your Will

If you have sold an asset that was specifically left to someone in your Will, that gift may no longer be valid.

That is why it is important to review your Will after any significant changes to your finances, property, or overall estate.

Your Chosen Executors or Guardians May No Longer Be the Right People

Over time, relationships and circumstances can change. If your relationship with a chosen guardian or executor has changed, it is worth considering whether they are still the most suitable person to carry out that role.

A regular review helps ensure your Will still reflects your current wishes and circumstances.

Making or Updating a Will with Gardner Leader

Gardner Leader makes the process of preparing or updating a Will straightforward.

An initial meeting can be arranged to discuss your circumstances, either in person or via video call, making it easy to fit around your schedule. Relevant documents can then be sent to you by email or post.

You may choose to sign your Will at Gardner Leader’s office, or it can be posted to you with detailed guidance on how to sign it correctly in line with the relevant legal formalities, including making sure it is properly witnessed.

Speak to Gardner Leader

To discuss preparing or updating your Will, please get in touch with Stephanie Scullion, Associate in Gardner Leader’s Wills, Probate and Estate Planning team.

Contact Details
Stephanie Scullion,  Associate
[email protected]
(0)1635 293616