in     by Danielle Sutcliffe 13-11-2018
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Your will is a living document. Although a will’s intent is to provide for what happens to your estate after you have died, your will needs to change as your life changes. Don’t make the mistake of putting your will away and forgetting about it. You must make sure that the details of your will reflect changes in your life.

 

The following are some of the reasons why you may need to change your will:-

 

  • AFTER A MARRIAGE. You need to include your new spouse in your estate plan, and if you didn’t have a contemplation of marriage clause in your will, your will is now invalid.

  • AFTER YOU EXPERIENCE A SIGNIFICANT CHANGE IN YOUR ESTATE’S VALUE. For example, your stock holdings may go way up (or way down!).

 

  • AFTER A DIVORCEYou most likely want to change what you planned to leave to your ex-spouse.

 

  • AFTER YOUR SPOUSE’S DEATH. If you left a significant portion of your estate to your spouse in your will, you need to update your will.

 

  • AFTER THE DEATH OF ONE OF YOUR HEIRS OR DEPENDENTS. If an heir dies before you do, you need to update your will to reflect a new recipient.

 

  • AFTER ANY OTHER CHANGE IN YOUR LIFE THAT CAUSES YOU TO RE-EVALUATE TO WHOM YOU WANT TO LEAVE SOMETHING. For example, you become passionate about a specific cause and decide that you want to leave a large portion of your estate to some charity that champions that cause.

 

  • BIRTH OR ADOPTION OF A CHILD/GRANDCHILD. You will want to ensure that all Children/Grandchildren will benefit from your Will; you don’t want to leave anyone out!

 

  • CHILDREN HAVE REACHED THE AGE OF EIGHTEEN. Now your children our 18 they could act as executors if you wish or you may have put that your children could receive something at 18 and may want to increase this to 21.

  • A CHANGE IN THE CIRCUMSTANCES OF YOUR EXECUTOR, GUARDIANS, TRUSTEES, ETC. Someone may have moved to the other side or the country, abroad, or no longer be in a position to be an Executor/Guardian/Trustee.

  • YOU HAVE MOVED. Although it isn’t necessary to change your address in your Will, you may want to check that your property is owned the same as your old one.

 

For a FREE review of your exisiting will contact us here.

http://www.dswills.uk

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