The Importance of Having a Will and Keeping It Under Review…
According to research from the Law Society, nearly two-thirds of the UK population do not have a valid Will, even though a Will is the only way to ensure that your money, property and personal effects are inherited in line with your wishes after you die.
If you die without a Will, the Rules of Intestacy will apply to your estate and the law will decide who receives what on your demise. This can lead to all manner of heartache and conflict, for instance, a cohabitee who was not married to or in a Civil Partnership with the deceased would not be entitled to anything under these rules.
Further research by Solicitors for the Elderly indicates that nearly half of those in the UK who do have a Will have not updated it in the last five years.
This means that nearly half of the Wills in the UK could be out of date and no longer fit the circumstances of the individual who made it or indeed reflect their wishes.
In some cases, a failure to update a Will may actually mean that it is no longer valid: unless a Will is made in contemplation of a specific marriage, a subsequent marriage will render it void and the Rules of Intestacy will apply.
To ensure that your Will remains relevant to your current circumstances and reflects your wishes, we recommend that it is kept under review, especially after a change in circumstances.
At Band Hatton Button, we have a wealth of experience and include members of Society of Trust and Estate Practitioners (STEP) and Solicitors for the Elderly (SFE). This means you can have peace of mind that you are dealing with a highly experienced and qualified team who specialise in helping with making Wills, Power of Attorneys, Attorney Support Services, Tax Planning, Administration of Estates, Trusts, Deputyship and Court of Protection related matters.
For individual advice and assistance contact our Wills, Probate and Trusts Team to find out how we can help.