Update your Will!
It is often the case that a Will is prepared, put away and forgotten about. However, it is of the up most importance to keep such a document under review. As has been widely reported in the media, Tamzin Outhwaite the former EastEnders star, has recently urged her fans to update their Wills, having not received ‘what was meant for her’ from her late Mother’s Will. She went on to tell her followers that her late Mother did not have a current Will and so she and her siblings did not receive what was meant for them.
We would recommend that you review your Will every 2-3 years or if your circumstances change considerably, for example:-
- Having children
- If a beneficiary or Executor dies
- Moving house
Once a Will has been signed and witnessed, you cannot make alterations to it, unless the alterations are done officially through a codicil or preparing a new Will.
A Will is one of the most important documents that you will prepare in your lifetime, so it is imperative that it is kept up to date and records your most current wishes. As Miss Outhwaite succinctly pointed out in her social media post, update your Wills so your money and assets do not end up ‘in the wrong hands.’