Is your will up-to-date?

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Thousands of people risk leaving their loved ones with nothing if they die because they don’t know what’s in their own will. If your circumstances change, for example, if you buy a house, this should be accounted for in your will otherwise there is a risk parts of your estate won’t pass to your family and friends.

Research by the Law Society revealed that 84 per cent of 25- to 34-year-olds do not have an up-to-date will. It also showed that 22 per cent of respondents over 65 did not know if they had an up-to-date will. Of particular concern were the 42 per cent of those widowed, divorced or separated who did not know if their will was current.

The Law Society points out the key changes in your circumstances when you might need to change your will. These include:

Getting married or entering into a civil partnership
Divorce or separation
Selling of an asset, such as property
Purchasing a large asset, such as a second home
Having children
Debt
Starting a business

For more information about wills and how to make one, visit the wills fact sheet on Your Legal Rights.

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