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Wills & Powers of Attorney
Amending your Will
What should you consider?
It is important to keep your Will updated to ensure it continues to reflect your circumstances. Any changes in your personal circumstances should trigger the review of your Will.
At Goughs Solicitors, we’re happy to look at your personal circumstances and assist you with amending your Will to ensure it’s still reflecting your wishes.
When should I amend my Will?
There are many trigger points in our lives which mean we should make or amend our Will.
These are the most common:
Buying your first home
A significant change in your financial situation, i.e inheriting money
Starting / running a business
It is highly advisable that you review your Will every five years to make sure it reflects your current circumstances and meets your wishes. Failure to keep your Will up to date could result in you dying without your most recent wishes being accurately reflected in your Will, and you also run the risk that your Will could be invalid.
Don't put off updating your Will
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about making a Will
Yes of course. Although in most circumstances we recommend having a new Will drawn up. A solicitor, whether it is the one who originally wrote your Will, or a new one, Will need to check all of the details and it won’t necessarily save you any money to simply amend a Will. Speak to your specialist Wills solicitor today for their advice on whether a new Will may suit your situation better.
There is no limit to the number of times you can amend your Will. However, having multiple Codicils can cause many complications further down the road, and add further expense fopr you.
We would therefore recommend you take advice on whether further amends or a new Will are your best option.
Your Will can not be amended after it has been signed and witnessed. The only way you can make a valid change to your Will is by either preparing a Codicil or preparing a new Will.
A Codicil enables you to make small changes to your existing Will without having to draft a new one from scratch. There is no limit to how many Codicils you can add to your Will.
If you become unable to make decisions about your own affairs a lasting power of attorney (LPA) will ensure that a person you trust receives legal permission to make decisions for you.