Why you should review your Will every 5 years
At Osborne Morris & Morgan, we understand that making a Will is one of the most important steps you can take to secure your family’s future. But just as life evolves, so too should your Will. A document written years ago may no longer reflect your wishes, your relationships, or your financial circumstances. That’s why we recommend reviewing your Will at least every five years or sooner if life circumstances change.
Here’s why regular Will reviews are not just sensible, but essential.
Life changes can invalidate your Will
Marriage, divorce, or civil partnership can dramatically affect the validity of your Will. For example, getting married automatically revokes any previous Will unless it was made in contemplation of that marriage. If you don’t update your Will, your estate could be distributed under the Rules of Intestacy, potentially excluding those you care about most.
New arrivals to the family
The birth of children or grandchildren is a joyous occasion, but it also calls for careful estate planning. Your Will should reflect your wishes for guardianship, financial provision, and inheritance timing. Without these updates, your intentions may be unclear or legally unenforceable.
Property and asset changes
Buying or selling property, inheriting wealth, or investing in new assets can significantly alter your estates value. If your Will doesn’t account for these changes, it may lead to confusion, disputes or unintended tax consequences.
Executors and beneficiaries may change
Relationships evolve and you may no longer wish for a former spouse to act as executor, or a named beneficiary has passed away. Just a quick change on your Will allows you to update these roles and ensure your estate in managed by someone you trust.
Key takeaways
We recommend reviewing your Will:
- Every five years
- After major life events (marriage, divorce, birth and deaths)
- If your financial situation changes
- If your chosen executors or guardians are no longer suitable
How we can help
Creating a Will is an act of care, keeping it updated is an act of responsibility. At Osborne Morris & Morgan, here to guide you through every step of your estate planning journey. If it’s been a while since you last reviewed your Will, now is the perfect time.
If you do not currently have a Will or you would like to update your existing Will, our Wills Team are experts in this field and know exactly how to word legal documents with no room for confusion or misunderstanding.
Contact our friendly Wills team today on 01525 378177 or email info@ommlaw.co.uk.
