A lot of people believe that once they’ve written their will, they don’t need to look at it again. That isn’t always the case.
Discover everything you need to know about how often you should update your will:
Creating a will is one of the most important steps in protecting your family, organising your affairs, and planning for when you’re not around. However, a lot of people believe that once they’ve written their will, they don’t need to look at it again.
Your will should evolve as your life changes. Relationships change, finances change, and so do laws – the plans you made ten years ago may no longer reflect your current wishes. Consequently, we’re often asked, “How often should you update your will?”
The short answer is you should review it regularly and update it whenever something significant changes in your life. In today’s article, I’ll break down what that actually means in practice.
Even if nothing major has happened or changed in your life, we recommend reviewing your will at least every 5 years. That doesn’t necessarily mean you’ll need to change anything, but it allows you to check that everything still reflects your wishes.
There are a few reasons this is beneficial. Firstly, laws and legislation can change. Estate planning rules evolve, and what worked perfectly a few years ago may benefit from an update today. Secondly, people’s circumstances change in subtle ways, and you may not immediately realise something has shifted until you look at your will again.
For example, you might ask yourself:
A 5-year review keeps everything current and updated, ensuring things continue to run smoothly.
Whilst regular reviews are important, some situations should prompt you to update your will a lot sooner. In general, any major life event is a good reason to revisit your estate planning.
This is one of the biggest reasons people update their will. Before having children, your will probably didn’t need to address guardianship. Once children arrive, that becomes one of the most important parts of your estate planning.
Your will allows you to legally appoint guardians, who will care for your children if you die before they reach 18. Without that explicit instruction in place, Social Services may need to decide who looks after them while checks are carried out. Updating your will ensures your wishes are clearly recorded and legally recognised.
Marriage has a significant impact on your will in England and Wales. In fact, marriage usually cancels an existing will automatically, unless it was specifically written “in contemplation of marriage”. That means that if you get married and haven’t updated your will, you may unintentionally die without one, leaving your estate to be distributed under the rules of intestacy.
Even if you’re only engaged at this stage, it’s wise to review your will. Engagement signals a clear intention to marry, and it’s a good time to make sure your planning reflects what you want to happen.
Similarly, changes in relationships should always trigger a will review. If you divorce, the law generally treats your former spouse as if they had died when distributing your estate. But the rest of the will may still remain in place, which can lead to unexpected outcomes.
If you separate but remain legally married, your spouse could still inherit under your existing will or under intestacy rules. Whenever relationships change, it’s worth checking that your will still reflects your intentions.
Property is often the most valuable asset people own. If you buy a new home, move house, or change the way a property is owned (for example, switching from joint ownership to tenants in common), your will should reflect that. Even if the will still works legally, updating it can avoid confusion and ensure your wishes are clearly documented.
Starting a business is another life event that people don’t always associate with updating their will, but it can be very important. A business may need specific instructions about what happens if the owner dies. For example:
Estate planning and business planning often need to work together.
If you inherit money or assets, your financial position may change significantly. This can affect who you want to benefit from your estate, how much you leave to certain people, and whether inheritance tax planning becomes relevant. Updating your will ensures your estate plan reflects your new circumstances.
Families sometimes grow closer, but they sometimes drift apart. You might fall out with someone named as an executor. Or a person you once trusted to handle your affairs might no longer be the best choice. Regular reviews allow you to make adjustments so that the people responsible for your estate are still the right people.
When people delay updating their will, the risk is that it no longer reflects reality. We’ve seen situations where executors have died, guardians are no longer appropriate, assets mentioned in the will no longer exist, and new assets haven’t been accounted for.
None of this is unusual, it simply reflects the fact that life changes. Without updates, a will can become outdated and potentially complicated for the people left behind. Reviewing and updating it periodically keeps everything aligned with your current life.
Another misconception is that updating a will is complicated or expensive. In many cases, it’s actually very straightforward. Sometimes a small amendment can be made through a legal document called a codicil. In other cases, it’s simply better to create a new will that replaces the previous one.
A clear, up-to-date will makes it far easier for executors to administer your estate, and for your family to understand your wishes. A quick check every few years, and a review after major life events, is usually enough to keep everything on track.
If you already have a will in place, that’s a great first step. However, don’t file it away and forget about it completely!
As a general guide, remember to:
A will only works properly if it reflects your current wishes and situation. At Heritage Estate Planning, we encourage clients to treat will reviews as part of normal life planning, as you would reviewing insurance policies or financial plans.
Ally Covers More on YouTube:
Let us take care of it, and book a free consultation with our Berkshire or Kent office.
We would love to speak to you if you have been looking for a trusted provider of wills and financial planning.
