Have you ever considered whether your Will still reflects your wishes? At Hatch Brenner, we’re proud to support Will Aid for the ninth consecutive year, helping individuals take that essential step in securing their legacies. While Will Aid often appeals to those without a Will, it’s equally vital to revisit and update existing ones.
If your Will is safely stored away, gathering dust, now might be the time to review it. Life changes quickly, and ensuring your Will evolves with it is crucial to protecting your loved ones and safeguarding your assets. Let’s explore why, when, and how often you should consider updating your Will.
Why Updating Your Will Matters
Your Will serves as your voice when you’re no longer here. While a well-drafted Will can stand the test of time, we recommend revisiting it regularly to ensure it still aligns with your current wishes.
Major life events—such as marriage, divorce, or financial changes—can significantly impact your estate planning needs. Additionally, changes in laws or your personal values may necessitate updates. Regular reviews of your Will can:
- Provide clarity and reduce potential disputes.
- Ensure your assets are distributed according to your latest intentions.
- Offer peace of mind to both you and your loved ones.
By partnering with Hatch Brenner, you can ensure your Will is always current, thorough, and legally compliant.
When – Key Life Events That Signal It’s Time to Update Your Will
Several key moments in life might prompt you to revisit and revise your Will:
1. Marriage or Divorce
These milestones affect inheritance rights and family dynamics. Updating your Will allows you to include (or exclude) individuals to reflect new circumstances.
2. Birth or Adoption of Children
Adding new members to your family often requires revising provisions for children, grandchildren, or dependents.
3. Property Purchase or Financial Changes
Whether acquiring a new home or significant assets, an updated Will ensures clarity in how these are distributed.
4. Shifts in Relationships
Evolving relationships may lead to changes in executors, guardians, or beneficiaries. Protect your assets by ensuring they remain with the right people.
5. Age and Executor Suitability
Consider whether named executors or guardians are still the best choices for their roles, especially if age or circumstances have made these responsibilities burdensome.
Legal Changes to Consider
Estate planning laws and tax regulations frequently change. Keeping your Will updated with the help of a solicitor ensures compliance with the latest legal requirements, minimising tax liabilities and safeguarding your family’s future.
How Often Should You Review Your Will?
As a rule of thumb, we recommend reviewing your Will every three to five years—or sooner if a major life event occurs. Regular check-ins with your solicitor help ensure your Will always represents your current intentions.
Remember: how you feel today may not reflect your wishes tomorrow. Proactive reviews can make all the difference.
Why Choose Hatch Brenner?
At Hatch Brenner, we provide expert, tailored guidance to ensure your Will reflects your unique circumstances and values. Our experienced solicitors work with you to create and maintain a legally compliant Will that protects your legacy and brings peace of mind to you and your loved ones.