Unfortunately, we never truly know what lies around the corner. One thing that is guaranteed in this life is that creating a Will will be required at some point.
While preparing for your passing isn’t the most pleasant of topics, it is so important to plan ahead and know when your Will needs to be amended.
- Marriage, civil partnership or divorce.
It is a little known fact that as soon as someone becomes married, their current Will becomes void and needs to be re-written.
Alternatively, when someone gets a divorce their Will must be amended to alter any areas where their former spouse was referred to.
- New additions to the family
When you welcome a new child into your family, it is recommended that you create or amend a Will to accommodate your new life.
Not only will you need to ensure that your child is taken care of financially and that your chosen assets are going to them, you will also need to designate someone to become your child’s guardian should they ever be needed.
- The death of a loved one
Sadly, we can lose loved ones who are written into our Wills. While it certainly isn’t at the top of your to-do list while you experience the grieving process, it is important to edit your Will to ensure all of your assets are taken care of.
- Buying a property
It may seem obvious but buying a property can have a huge impact on your Will. Make sure you talk to me about this.
- Change in health situation
While most older people have a Will in place, no one knows when their health could take a turn for the worst. If there is a drastic change in your health, we recommend ensuring you have a valid and up-to-date Will in place. While it may not be the cheeriest of things to do, it will certainly make things easier for family members.
Another thing to consider is whether this change in health will impact mental capacity. If it does, it is important to make any changes to a Will while you are still seen as having capacity, otherwise your Will and assets are at risk.
Here to help you
At Will Makers of the Midlands, I write your Will and store it until it is required or until you want to edit it. I understand that circumstances change, so there are no hidden costs when it comes to amending your Will.
You will have seen news stories where Wills are being signed are car bonnets! Yes I have been doing that too – social distancing is vital, witnesses are still vital and a Will is vital and all can be done at the same time – even during a Covid-19 pandemic.
Please feel free to get in touch if you would like any more information.