We advise clients of all ages and stages of life to ensure that they have a Will in place to protect them, and their loved ones, upon their death. However, it is also important that you regularly review your Will to ensure that it continues to protect your estate, reflect your wishes and is accurate. Certain major life events should prompt you to review your Will and make relevant changes, such as buying a house, getting married, having children and getting divorced.
When you put your Will in place, it is advisable to contain certain provisions within it to cover potential future events. For example, where you are leaving part or all of your estate to a particular person, you may wish to include provision as to where that part of the estate should go should that person predecease you. Similarly, if at the point of writing your Will you only have one child, you may wish to include provision that any estate you are proposing to pass to that child would pass to any other children who you may subsequently have had following executing the Will. Whilst nobody likes to think of nominated beneficiaries in their Will predeceasing them, it is an important factor to consider, to ensure that you are comfortable as to where that part of your estate would pass should that situation arise.
Whilst it is of course possible to put in these types of provisions to try and cover all future possible events, it remains important that your Will is regularly reviewed to ensure that it continues to meet your requirements and your wishes.
Should you require any assistance from our experienced private client lawyersin relation to drafting a new Will or reviewing an existing Will, please do not hesitate to contact us.
North Berwick - 01620 892138