Many people believe that once a will has been signed, it is permanent and cannot be changed. Fortunately, that isn’t true.
Life rarely stands still. Families grow, financial circumstances change, relationships evolve, and new priorities emerge. Your will should reflect those changes to ensure it continues to represent your wishes.
If you’ve already signed a will, you can usually update it. The important thing is making those changes correctly so your will remains legally valid.
Why You Might Need to Update Your Will
A will should be reviewed whenever there is a significant change in your life.
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Request Your Free Estate Planning ReviewCommon reasons include:
- Getting married or entering a civil partnership.
- Getting divorced or separating.
- Buying or selling a property.
- Having children or grandchildren.
- The death of a beneficiary or executor.
- Receiving an inheritance.
- Starting or selling a business.
- Changes to inheritance tax rules or estate planning legislation.
- Wanting to include new beneficiaries or charities.
Even if none of these events have occurred, it is good practice to review your will every three to five years to ensure it still reflects your circumstances.
Can You Simply Write on Your Existing Will?
No.
Crossing out names, adding handwritten notes, or making alterations to a signed will can create uncertainty and may even invalidate part or all of the document.
Any changes should be made using the correct legal process to ensure your wishes can be carried out without complications.
What Is a Codicil?
A codicil is a legal document used to make minor amendments to an existing will without replacing the entire document.
It can be appropriate for relatively small changes, such as:
- Changing an executor.
- Updating a beneficiary.
- Adjusting a specific gift.
- Correcting minor details.
Like a will, a codicil must be properly drafted, signed, and witnessed to be legally valid.
However, if you need to make several changes, creating a new will is often the simpler and clearer option.
When Is It Better to Make a New Will?
If your circumstances have changed significantly, writing a new will is usually the best approach.
A new will can help avoid confusion and ensure all your wishes are contained in one clear, up-to-date document.
You may want a new will if:
- You have remarried or entered a civil partnership.
- Your family structure has changed.
- You have acquired significant assets.
- You want to include trusts as part of your estate planning.
- Your previous will is many years old.
- You have made several codicils over time.
Replacing an outdated will can make the administration of your estate much easier for your loved ones.
Does Marriage Affect Your Will?
One of the most important facts many people don’t realise is that, in England and Wales, marriage or entering into a civil partnership generally revokes an existing will unless it was specifically made in contemplation of that marriage.
This means your previous will may no longer be valid after you marry.
If you are planning to get married or have recently done so, reviewing your will should be a priority.
Don't Forget Other Estate Planning Documents
Updating your will is also a good opportunity to review the rest of your estate plan.
You may wish to check:
- Lasting Powers of Attorney.
- Pension beneficiary nominations.
- Life insurance beneficiaries.
- Trust arrangements.
- Property ownership.
- Inheritance tax planning.
Ensuring these documents work together can help your estate plan operate as intended.
Why Regular Reviews Matter
Many people write a will and then store it away for decades without looking at it again.
Unfortunately, an outdated will can cause almost as many problems as having no will at all.
Regular reviews help ensure your estate planning keeps pace with your life and any changes in the law.
