Some people make a will and then forget about it, others simply procrastinate until it`s too late. Updating a will is vital because in life, things never tend to stay the same. IWC offer a will update service, with our partners we offer a nationwide service so you can always be certain, if the worst happens, your loved ones will be provided for.
Did you know the shelf life of a Will is generally perceived to be about 8 years?
As probate specialists we see hundreds of cases of impartial intestacy and contentious probate, due to the fact that the deceased did not update their will. This could be because the will did not account for all the assets or was made before a significant change of circumstances. Updating your will regularly can avoid such issues; making sure loved ones are adequately provided for and also making any alterations in response to changes in inheritance tax law.
Fully Qualified - your update will be carried out by a full STEP member or Law degree qualified professional. All of our Will writing partners are members of one of the regulatory organisations
Specialists - we are a Probate company, as such we only use Willwriting partners who are fully conversant with current inheritance laws.
Fully Insured - IWC are Regulated by the Society of Will Writers & Estate Planning Practitioners, are partners are also members of the same organsation or the Institute of Professional Will Writers or the European Association of Will writers
Low Cost Updates - Our prices are extremely competitive for anyone wishing to make or update a will.
No-Obligation Appointments - we can review your will to ensure its validity and recommend updates based on your situation changes.
Free Help & Advice - Call us for help with updating, open until 10pm 7 days a week.
When Should I Update my Will?
Updating your will should be done every time your circumstances change. Statistically speaking this is generally every 5-8 years. If any of the following events apply to you, a will update is important to ensure your last wishes are carried out.
Marriage - If you marry somebody after you have made a Will and your marriage was not specifically mentioned, your old will is automatically revoked.
Separation - If you separate from a partner currently mentioned, you should make a new Will to ensure the person receives no part of your estate. Even if it is your wish that they still receive part of your estate you should consider re-writing anyway. This ensures your family realise that your last will represents your actual wishes.
Divorce - If you divorce without updating your Will, the law reads it as if your previous spouse has pre-deceased you. This can cause problems for your intended beneficiaries if there are no alternative executors.
Birth - If you have a child, another child or grand-children you`ll most likely want to include them in any estate distribution.
You receive an inheritance - You should review your will as you may find that your estate is now subject to inheritance tax.
Inheritance rules change - With inheritance tax being charged at 40% on estates over £325k (as of April 2009) it is important to keep abreast of the tax rules and update when necessary.
Retirement - You may wish to consider community care planning.
Children have reached the age of 18 - If your children were under 18 when you made your will, you may wish to remove any obsolete guardianship clauses. More importantly, you may now want to appoint them as executors.
Your wishes change - this is often done when the testator simply changes their wishes.
Someone in your will dies - you should review your will if a beneficiary, guardian or appointed executor in your will pre-deceases you.
Witnesses pre-decease you - Although is it not a legal requirement to do so, under these circumstances, updating is advisable. If your will proves to be contentious there would be nobody alive to prove your will was written and signed without any undue influence from others.
If any of the situations detailed apply to you, contact IWC now for help updating your will.