It is a general belief that writing a will is a final act. Once it is signed, the matter is over and needs no further concern or thought. However, it is important to remember that most people’s personal circumstances change throughout their lives. Ideally your will should reflect these changes.
Many people make a will when they buy their first home, get married or have children and do not get around to updating it regularly even if they experience further significant life events. To ensure that your will still reflects your wishes, the terms of your will should be revisited several times throughout your lifetime. The important thing is to regard a will as a starting point, something that can be changed and built upon.
Unless wholesale changes are being made to a will, updating a will is unlikely to involve the time and expense of having an entirely new will drafted. Often a codicil can be made which supplements a will and provides for the amendments that you require.
It is important to ensure that as your life changes, so does your will.
For more information on updating wills, please contact the head of our private client department, Deborah Adams, on 01566 772 375 or at AdamsD@Parnalls.com