Making changes to your Will?
Feb 15, 2018
We recommend that clients review their Will every 3 years.
News & Blogs
We recommend that clients review their Will every 3 years.
This is because there may have been changes in your life which may have triggered a necessary change in your Will. These could include:
It might be that, after reviewing your Will with your Solicitor, you decide that no changes are required. If however you do decide that changes are necessary, there are two ways to do this depending on the extent of the changes needed.One way to update an existing Will is to make a codicil. This is a legal document which allows you to make changes to an existing Will. There are no rules to say what changes can be made using a codicil, or how many codicils you can make. However, if there are a number of them this can add to the complexity of administering a Will after someone has died.
A codicil is more suited to situations where a minor change is needed, for example, changing the age at which a beneficiary will receive a gift or changing an address of a beneficiary. A codicil must be properly prepared and has the effect of adding to your existing Will. It does not revoke the original Will. You will need to sign it and it must be witnessed by two independent witnesses.
If a major change or number of changes are required to your Will, then a codicil isn’t suitable. Instead, we would recommend making a new Will.
If the changes you wish to make are significant, writing a new Will may be the best option for you. A new Will must revoke any previous Wills or codicils.
Once you have updated your Will, be sure to tell your executors where the new Will is stored so that they can obtain it at some future date. Your Solicitor will advise you on destroying the previous Will and any copies.
Whether you decide to use a codicil or make a New Will completely, it would be advisable to use a reputable firm of solicitors This will avoid unnecessary problems after your death. It is particularly important to consult a Wills specialist if your circumstances are complicated by issues such as:
If you have a question for Natalie or would like to talk to her about making changes to your existing Will, or making a Will for the first time, you can get in touch with her at:
T: 01943 609969
When a loved one passes away, going through the process of administering their estate will always be emotional and complex. But when the original will cannot be found, the situation becomes even more difficult - raising questions about the deceased’s true intentions and creating uncertainty for those left behind.
After talking to clients about the planning of their affairs, we at Walker Foster discovered a common misunderstanding over the difference between an executor and an attorney.
When discussing lasting powers of attorney (LPAs) with clients, usually their immediate concern is appointing an attorney to deal with their personal affairs. But this overlooks another key question: who would run your business if you were ill, or had an accident and lost capacity?
In this blog, Walker Foster’s Wills and Probate Executive Cay Schofield shares her insights into the various planning arrangements, and how each of them can help to provide clarity and security for you and your family.
Craven House, Newtown, Barnoldswick, BB18 5UQ
First Floor, 7 Victoria Avenue, Harrogate, HG1 1EQ
27 Riddings Road, Ilkley, LS29 9LX
Century House, Northallerton, DL6 2XQ
The Old White Horse, Market Place, Settle, BD24 9EF
63 Kirkgate, Silsden, Keighley, BD20 0PB
3 High Street, Skipton, BD23 1AA