Reviewing Your Will
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Many people think that making a will is a once-in-a-lifetime activity, but a change in circumstances can influence how you wish to distribute your assets in the event of your death.
At IBB Law, we recommend that you review your will every three to five years but events such as divorce, family bereavement or a change in financial status can mean a more immediate revision is advisable. If you think you need to revise your will, then our dedicated team is here to help.
When do you need to review your will?
If the change is minor, such as adding a legacy, then you can make what is known as a codicil to a will (an amendment to an existing document), however this still needs to be signed by you in the presence of two independent witnesses. We strongly recommend that if you do need to make any changes that you draw up a new will and destroy your previous one, to avoid any possible confusion after you’ve gone.
There are various instances or change in circumstances when we recommend that you review your current will:
- If you want to make specific gifts;
- If you wish to add or remove a beneficiary;
- If you have property abroad, or emigrate;
- If your business interests change;
- If a beneficiary, Executor or Guardian dies;
- If you acquire / inherit new assets;
- If you have new grandchildren, new family members or beneficiaries;
- If you get divorced or married.
IBB – lawyers for life
There are other issues to consider, such as how inheritance tax will affect your estate, as well as provision for long-term care. To protect your assets, you need professional, expert advice from dedicated and experienced solicitors.
Our team specialises in high net worth estates and advising clients with more complex affairs on how to create, restructure or update their wills. Working with generations of clients in Chesham, Amersham, High Wycombe, South Buckinghamshire and the M25 west area, we provide a whole-life service.
Our team includes two STEP (Society of Trust and Estate Practitioners) members, and two panel deputies for the Court of Protection. Our dedicated Wills, Trust and Probate team are also flexible – we can meet with you at work, at home, at our offices in Uxbridge, or at our Private Client offices in Chesham.
We are here to help you protect your assets and ensure that your beneficiaries are properly provided for after you’ve gone. We give you and your loved ones total peace of mind knowing that your affairs are up to date and in order, no matter how your circumstances change. We can also help with capacity issues, estate planning and management and lasting powers of attorney.
If you would like to review your will and need expert, professional advice, call us now on 01494 790002 or email firstname.lastname@example.org.