If you already have a Will, this is a sign that you are concerned with putting your affairs in order, just in case something will happen to you. Although your Will may have suited your situation at the time, this doesn’t mean it is still actual. As time goes by, relationships alter, new children are born, financial situations change and your Will doesn’t reflect your situation anymore.
Read the following questions. If your answer is yes to any of them, then it’s time to review and update your Will.
– Have you married?
– Have you been through a divorce or separation from your partner?
– Has your partner or any beneficiary of your Will died?
– Have any of your personal relationships changed?
– Have you got any more children now than by the time of your Will?
– Have your children now become adults?
– Have your children married?
– Are you now a grandparent?
– Have you acquired more assets or properties?
– Have you bought any new property abroad?
– Have you made a Will to cover your properties abroad?
– Has the value of your estate increased?
– Have you founded, acquired or sold a business?
– Have you sold your home to move into a senior care facility?
These are only a few of the situations that may require you to review your Will. Generally speaking, anything that occurred between the time you made your Will and the present moment may call for a Will update.
What Should I Do In Case I Think I Need To Change My Will?
First of all, we need to assess whether a change is indeed necessary given your actual circumstances.
We offer you a free initial consultation to discuss your situation and the changes that have occurred in your life since the date of your existing Will. You’ll book an appointment with one of our specialists and you’ll discuss all these matters. Should we determine the opportunity of updating your Will, we can prepare a custom quote for you. You’ll get an idea about the costs involved, should you decide to change your Will to suit your current circumstances.
How Do I Change My Will?
There are two ways of doing this. The first way is by creating a Codicil, a legal document which lists the amendments and the changes to your existing Will. The law requires that this Codicil is witnessed and signed by the same persons as your original Will. The Will and the Codicil should then be stored together. Beware, though, there are situations in which a Codicil isn’t the right solution. Our experts will explain you these things in detail to help you make the appropriate choice. Furthermore, you must keep in mind that both your Will and your Codicil will be stored together, so everyone will be able to read the contents of both. In some situations, you may not want to allow this, as you may not want some of your beneficiaries to find out how you’ve altered your original Will.
The second way to proceed is to make a New Will. Our standard service package includes an information guide called Making a Will? In addition, we can offer a wide range of other services such as Estate Planning and ways to reduce Inheritance Tax, the opportunity of using Trusts, and various claims against your estate. All these services are subject to additional fees. We are happy to discuss them with you during your initial appointment.
Do I Need To Make A New Will In Case People Mentioned In My Original Will Have Changed Their Addresses?
If this is the only change you wish to make to your Will, you won’t need a new one. Such simple changes don’t require anything else than your confirmation in writing, signed by you and dated. We will store this letter with your Will. If your Will is held with us, you won’t have to pay any fee for this service.