10 Life Events That Mean You Should Update Your Will

Introduction

Making a will is one of the most important steps you can take to protect your loved ones and ensure your estate is distributed according to your wishes. However, simply writing a will once and forgetting about it isn’t enough. No matter if you get a Single Will or Mirror Wills life changes, and when it does, your will should reflect those changes. Failing to update your will could mean that your assets don’t go where you intended or that your loved ones face legal challenges after your passing.

Here are 10 key life events that should prompt you to review and update your will.

---

Speak to a Will Writing Expert

1. Marriage or Civil Partnership

In the UK, getting married or entering into a civil partnership automatically revokes any previous will unless it was made “in contemplation of marriage.” This means that if you don’t update your will, your spouse or civil partner could inherit your entire estate under intestacy rules—potentially leaving out children, other family members, or previous beneficiaries.

📌 Update your will to: Ensure your new spouse or partner is included while maintaining provisions for other important people in your life. Read more about Mirror Wills.

---

2. Divorce or Separation

If you get divorced, your ex-spouse is legally treated as if they had died when it comes to your will. This means they won’t inherit under your existing will, but the rest of your will remains valid. However, this could lead to unintended consequences where other beneficiaries inherit by default.

📌 Update your will to: Remove or revise your ex-spouse’s inheritance and ensure your assets are distributed as you now intend.

---

3. Birth of a Child or Grandchild

The arrival of a new family member is a crucial reason to update your will. If you don’t specifically name your child or grandchild in your will, they may not receive the inheritance you intended.

📌 Update your will to: Name guardians for minor children, specify inheritance shares, and establish trusts if necessary.

---

4. Buying a Property

Purchasing a home significantly increases your estate’s value and may change how you want your assets distributed. Whether it’s a family home, a buy-to-let property, or a holiday home, it’s important to reflect this in your will.

📌 Update your will to: Ensure your property is allocated according to your wishes and consider protective property trusts if needed.

---

5. Significant Changes in Financial Circumstances

If you come into a large sum of money—such as an inheritance, lottery win, or business profit—you may want to distribute your assets differently. Conversely, financial difficulties may also mean adjusting your will.

📌 Update your will to: Reassess your beneficiaries and tax planning strategies, including potential Inheritance Tax (IHT) implications.

---

Speak to a Will Writing Expert

6. Death of a Beneficiary or Executor

If someone named in your will, such as a beneficiary or executor, passes away, you’ll need to appoint new individuals to fulfil those roles.

📌 Update your will to: Reassign inheritance and executorship responsibilities accordingly.

---

UK tax laws, including Inheritance Tax and Capital Gains Tax, change over time. An outdated will may not take full advantage of tax efficiencies.

📌 Update your will to: Incorporate tax-saving strategies to protect your estate and beneficiaries from unnecessary tax burdens.

---

8. Remarriage or Entering a New Relationship

If you remarry, your new marriage can revoke your existing will (unless explicitly stated otherwise). This means your assets may go to your new spouse by default, potentially disinheriting children from a previous relationship.

📌 Update your will to: Balance inheritance between your new spouse, children, and other family members fairly.

---

9. Starting or Selling a Business

If you own a business, your will should include plans for business succession. Failing to do so could lead to disputes or an unplanned sale of your company.

📌 Update your will to: Name successors or determine whether the business should be sold or passed down.

---

10. Moving Abroad or Acquiring Assets Overseas

Different countries have different inheritance laws, and your UK will may not be valid for overseas assets.

📌 Update your will to: Ensure international assets are covered, and consider a separate will for foreign properties.

---

Speak to a Will Writing Expert

How to Update Your Will

Updating your will is a straightforward process but should always be done with professional guidance to ensure legal validity. You can update your will by:

• Creating a codicil – A legal amendment to your existing will.
• Drafting a new will – Recommended for significant changes.
• Seeking professional advice – A will-writing expert or solicitor can ensure your changes are properly executed.

📌 Need to update your will? Contact our Will Writing Experts today for expert guidance.

---

Conclusion

Life is constantly evolving, and your will should evolve with it. By updating your will after these major life events, you can protect your assets, provide for your loved ones, and avoid unnecessary legal complications.

For expert advice on reviewing or updating your will, book a free consultation with Town & Country Law.