Why updating a will is just as important as writing one, according to Harrogate solicitor

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Life never stands still and neither should your will. Hana Gwyn, Personal Law Partner at LCF Law’s Harrogate office explores the importance of updating your will to protect your loved ones and ensure your wishes are honoured.

You’ve taken the time to carefully craft your will, outlining your intentions and having it signed with the help of a solicitor. But if you think that’s the end of the story, think again. An outdated will can create just as many problems as not having one at all, potentially leaving your loved ones in legal and financial turmoil.

If your will doesn’t reflect your current circumstances, your money, possessions and assets may not go to the people you want them to. Worse still, your loved ones could face unnecessary inheritance tax or costly legal disputes if your will is contested.

Updating your will ensures that your estate is distributed according to your current wishes and safeguards your family from avoidable stress. Here’s a guide to the key life events that mean it’s time to update your will and how to make the necessary changes.

When should you update your will?

• Adding a child or stepchild: Welcoming a new child through birth or adoption means you’ll need to update your will to provide for them and appoint a guardian if they are minors. Stepchildren require specific legal provisions to ensure your wishes are honoured.
  
• Getting married: Marriage revokes your existing will in most cases. If you don’t create a new one, your assets may be distributed according to default laws rather than your personal wishes.
  
• Going through a divorce: Divorce can partially or entirely revoke a will. Until the divorce is legally finalised, your spouse may still inherit under your existing will.
  
• Changing relationships: If you’ve become estranged from a beneficiary or have a new significant relationship, updating a will ensures your wishes are up to date.
  
• Acquiring significant assets: Buying property, starting a business or experiencing changes in financial circumstances often necessitates a review to reflect your current estate. Additionally, changes in tax rules may require adjustments to maximise tax allowances.
  
• Changes to executors or beneficiaries: If an executor or beneficiary passes away or their circumstances change, you’ll need to update your will accordingly.
  

Even without major life changes, it’s wise to review your will every 3–5 years to ensure it still aligns with your wishes and complies with current laws.

How to update a will

When updating a will, it’s crucial to follow proper legal procedures to ensure the changes are valid. Minor amendments can often be made using a codicil, but substantial changes may require drafting a new will.

Avoid handwritten edits on your original will as this can invalidate it.

LCF Law is here to help

The experienced team at LCF Law can guide you through the process of updating your will to ensure that it’s valid and up to date and protects your loved ones.

For a limited time, the firm is planting a tree for every will written or updated in partnership with the Yorkshire Dales Millennium Trust. 

By updating your will with LCF, not only will you be protecting your assets for your family, you will also be creating a sustainable legacy for future generations to benefit from and enjoy.

For expert advice or to arrange a review, contact Hana Gwyn on 01423 502211 or hgwyn@lcf.co.uk, or visit www.lcf.co.uk for more information.

This story is sponsored by LCF Law.