Review your Will

by Sydney Brown on Jun 14, 2019

Pondering our own mortality is tough but necessary if we wish to put our affairs in order. Once you have signed your Will, you may experience a sense of relief and peace of mind however, do not be tempted to forget about it completely. Life is unpredictable and your circumstances could change. For example, should you enter into a marriage or civil partnership after executing your Will, the Will is automatically revoked unless it has been drafted in a very specific manner i.e. stipulating that it was made in contemplation of the impending marriage.

Other situations when it is vital to review your Will are when you inherit a large sum of money, separate, divorce or on the birth of children or grandchildren. Lastly, tax laws can change over the years which could have a negative effect on your estate. Having a Will in place is better than no Will but failing to keep your current Will updated could bring with it a different set of problems or challenges after your death. Reviewing your Will periodically (every 3-5 years) and after significant life, events will give you peace of mind that your wishes will be carried out after your death.