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Time to update your Will?

Wills are in need of regular review. All too often a Will is made and then placed into an envelope in the back of a cupboard.

Take a recent case - three brothers have been involved in a dispute over the £1.8 million estate of their mother. The Will left the estate to the three brothers equally.  It was drawn up in 1971 and had not been looked at since then. One of the brothers spent the past 8 years caring for his mother, whilst his brothers pursued their careers. They are now fighting in court with the brother who was the carer seeking a larger portion of the estate or facing losing his home. This is but an example of the fraught and bitter disputes that an outdated Will can cause.

Circumstances change, Tax law changes, and as we get older there is concern that hard earned cash should not all have to be used to pay for care. By having a review of your Will all these aspects can be considered and you can be given advice on the best way to deal with the changes.  

By  updating your Will, your family can know your wishes, that they have been considered in the light of changes in circumstances, the best has been achieved to protect assets from care home funding and the lowest tax bill will be paid.

If you would like to discuss updating your Will please contact a member of our Wills and Probate Team on 01905 721600.

Have a question or need some help? Call us today on 01905 401 893

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