It is all too easy to assume if you already have a will in place it is not something that you have to think about. However, it is important to bear in mind that if your circumstances have altered significantly then your will may need updating.
When to think about reviewing your will:
• If you have married since you made your will the act of marriage revokes a will unless specific reference to the marriage has been made in the will beforehand.
• If you made your will prior to 2007 then there have been significant changes to the Inheritance Tax regime upon which you should consider taking advice.
• If your children have grown up since you made your initial will, your choice of executor may be out of date or you may now have grandchildren you wish to provide for.
When you leave your estate on your death you are most likely making the largest gift you will ever make to your family and loved ones and it is worth taking the time to ensure that it passes as you would wish it to.
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