It’s been a time of great change; so, does your Will reflect this?

It’s been over a year since COVID forced us all into lockdown. During this time there has been an incredible amount of change. From job losses to house moves, everything has been thrown up in the air.

So what does this mean for your old Will?

Any big life event usually involves updating your old will or making a new one.

For example:

• Getting married

• Buying a house

• Having a baby

• Getting divorced

• Setting up a new business

What if you don’t update your Will?

It’s really important that you take steps to get your will updated in any of these circumstances.

That’s because these kinds of big life events can make your old will open to challenge. At the very least it will be unlikely to reflect your current wishes.

Moving to a new house and making a Will

Millions of us have decide that it is time to move to pastures new over lockdown.

Whether you have up-sticks for the rural dream or just swapped locally for a little more outside space, remember that you will need to update your Will to reflect this.  

Do I really need to change my Will if I have started a new business?

There’s been an unprecedented number of people setting up new businesses in the UK during lockdown.

Many people have used their time on furlough to pursue an old dream or simply decide that they no longer want to return to their old life.

If you are one of these people, then you should speak to your Will writer and ask them for some advice.

Business Trusts can be added to your will to make sure that there are instructions as to what happens to your business if you die.

This is especially important if you are in a business partnership as failure to do so can leave your business unable to operate.

You should also make sure that you have creating a Lasting Power of Attorney, nominating a trusted next-of-kin who can pay your bills and manage your finances if you become incapacitated.

What to do now

Fortunately, updating your will is a pretty straightforward affair.

You’ll need to speak to a Will writer and tell them what changes you have made so they can advise you on the best way forward.  

Just contact our office and we will be happy to guide you through the process.