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There are many different circumstances that may affect how your Will has been written and some can render your Will void.  Here at David Allen, we ensure we contact our clients every three years to prompt them to review their Wills, ensuring that they are drafted in the most efficient way possible for their own personal circumstances.  A Will is not a ‘one size fits all’ document.  Here we have highlighted some of the most important areas to consider:

Marriage

Unless you have included a clause in your Will confirming that it is to remain in force after marriage to your partner then your ‘pre-marriage’ Will, will be revoked.  Therefore, it is extremely important to review your Will after marriage to ensure that it is still a valid document and to make any necessary changes.

Divorce

Unlike marriage, a divorce does not revoke a Will, and it doesn’t mean the Will you arranged prior to marriage will come back into effect.  Your current Will remains valid; however, your ex-spouse will be treated as if they had died when your marriage or civil partnership was dissolved (the date the decree of absolute has been granted).  This can have a serious effect on your estate up to receiving the decree of absolute as your ex-spouse may still be entitled to the gifts you have left them within your Will.  It is therefore important to review this throughout the divorce process.

Death

Should an executor and/or trustee of your Will pass away it is important to review your Will to ensure that you appoint the correct people to close and distribute your estate.  The same applies for beneficiaries as you want to ensure the correct people are inheriting your estate should they ‘pre-decease’ you.

Children and  Grandchildren

It is very important to review your Will in the instances where you may have more children, stepchildren and/or adopt children to ensure that they are either included or excluded from your Will depending upon your family circumstances.  There are many ways to protect assets for the younger generation.

Purchasing a property, inheriting funds, business

These generally fall under one category, so it is important to review your current financial position to ensure you are distributing your assets to your beneficiaries according to your wishes.

With so many different things to consider, it is vitally important to seek advice to ensure your wishes are guaranteed.  If you’d like to make any changes, don’t delay, even if your Will has been written elsewhere, we can very easily make amendments for you.  We have experts in Carlisle, Dalston, Penrith and Workington who would be happy to discuss your needs.