{"id":2960,"date":"2020-02-02T15:54:32","date_gmt":"2020-02-02T15:54:32","guid":{"rendered":"https:\/\/www.tayloremmet.co.uk\/blogs\/?p=2960"},"modified":"2020-02-02T15:54:32","modified_gmt":"2020-02-02T15:54:32","slug":"reviewing-will-life-changes","status":"publish","type":"post","link":"https:\/\/www.tayloremmet.co.uk\/blogs\/reviewing-will-life-changes\/","title":{"rendered":"Reviewing your will as life changes"},"content":{"rendered":"

February might seem a strange month to make resolutions, but as Hannah Montague highlights, if there\u2019s been major change in your life recently, it\u2019s always the right time to put your affairs in order\u2026<\/strong><\/span><\/p>\n

Key life events can have a major impact on the validity and effectiveness of your final wishes. If you have experienced any of the following since your most recent will was drawn up, be sure to book a review meeting with a specialist probate solicitor.<\/p>\n

I am due to marry my fianc\u00e9 later this year, do we need to review our wills? <\/strong><\/span><\/h3>\n

Yes. It is very important to see a solicitor as part of your wedding arrangements, as entering into a marriage or civil partnership revokes a valid will, unless it was made in contemplation of your nuptials.<\/p>\n

If you don\u2019t update your will after marriage and something happens to you, the law will deem you to have died intestate (without a will) and your estate will be subject to the government\u2019s rules on who should inherit your assets.<\/p>\n

I\u2019ve had children since my last will was drawn up. Do I need to take action? <\/strong><\/span><\/h3>\n

Yes. It is important you nominate testamentary guardians to look after your children, in the event both parents die before they reach adulthood.<\/p>\n

The guardians you choose would effectively assume parental responsibility, ensuring your children are looked after and acting as their moral compass.<\/p>\n

My wife and I have separated and are thinking about divorce. What impact would this have on my will? <\/strong><\/span><\/h3>\n

It is good idea to review your will when you separate from a partner, as you will most likely want to prevent them benefiting from your estate whilst you are still classed as married.<\/p>\n

If you go ahead with the divorce and something fatal happened to you before you\u2019d changed your existing will, any bequest to your wife would fail. However, you would still need to review the appointment of executors and other beneficiaries.<\/p>\n

In what other circumstances should I review my will?<\/strong><\/span><\/h3>\n

If you, or anyone mentioned in your will, changes their name or address, you may need to update your will. Likewise, if a beneficiary or executor dies, or becomes unable to act on your behalf for any reason, you should update your instructions.<\/p>\n

If you sell a property you have bequeathed to a specific individual, or it changes in nature, this needs recording, as do any alterations to the material value of your estate.<\/p>\n

Finally, the laws relating to inheritance tax are updated frequently, which makes it important to consult your solicitor periodically \u2013 we recommend every five years \u2013 as you may be advised to change your instructions, make gifts or take other steps, while it is still possible, to ensure your beneficiaries are not burdened with a tax bill.<\/p>\n

To find out more about making or reviewing a will, why not book a free 30-minute consultation with one of our probate specialists? Telephone (0114) 218 4000<\/strong><\/span>, email: info@tayloremmet.co.uk<\/span><\/strong><\/a> or complete this form.<\/a><\/strong>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

February might seem a strange month to make resolutions, but as Hannah Montague highlights, if there\u2019s been major change in your life recently, it\u2019s always the right time to put your affairs in order\u2026 Key life events can have a major impact on the validity and effectiveness of your final […]<\/p>\n","protected":false},"author":1,"featured_media":2961,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[356],"tags":[531,993,999,1249],"class_list":["post-2960","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wills-and-probate","tag-civil-partnership","tag-making-a-will","tag-marriage-2","tag-reviewing-a-will"],"yoast_head":"\nReviewing your will as life changes<\/title>\n<meta name=\"description\" content=\"Hannah Montague highlights why if there\u2019s been a major change in your life recently, it is the right time to put your affairs in 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