When was the last time that you looked at your Will? – chances are that you may have forgotten about it and perhaps your circumstances have changed since you first drafted what you thought was going to be your last Will.
Once you have made a Will, that should not be the end of the matter. It is important that you take the time to review your Will regularly, in case a change of circumstances invalidates your Will, there has been a change in the law which may impact upon your Estate planning strategy, or your wishes simply change.
A good rule of thumb is to review your Will every five years just to make sure that it is still current with your wishes for passing your Estate on after your death. Alterations and additions might also be necessary if there have been changes in your personal finances or family situations. You should carefully review what your Will says as it might be time to change it.
The expert lawyers in the Wills, Tax and Probate team at Enoch Evans LLP have a wealth of experience in advising upon and drafting Wills. The team are also experts in providing bespoke Estate planning advice upon how best to reduce the Inheritance Tax that will be due on death. The Department is accredited by the Law Society for membership of its elite Wills and Inheritance Quality Scheme (‘WIQS’).