Updating your Will

Published on
1 min read

The coronavirus pandemic means that it is more important than ever to ensure that your Will is up to date. If your circumstances have changed, your Will may no longer be appropriate or could even be invalid. So, what do you need to consider?

  • Does your Will still benefit the right people?  Family circumstances may have changed or one or more of the original beneficiaries may have died.  If this is the case, you will need to think about who should now receive their share of your estate.
  • Is the Will still tax-efficient?  Changes to inheritance tax, such as the new Residence Nil Rate Band, may mean that your Will needs to be updated in order to capture available allowances.  Similarly, if you have acquired any assets that are likely to qualify for business property relief or agricultural property relief from inheritance tax, an updated Will can help you make the most of these reliefs.
  • Do you need to appoint somebody to act as guardian for your children?  This is particularly important where there is nobody else with parental responsibility or where child arrangement “live-with” orders are in place.

Our private client team are able to discuss your requirements and take instructions for Wills over the phone or using videoconferencing.  We can also advise on the execution of the Will during lockdown – see our article for more information on this.

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