Why make or up­date your Will?

Daily Mail - - Mail Finance -

1 Need to make a Will If you pass away with­out a valid Will, the gov­ern­ment will de­cide who in­her­its your pos­ses­sions, prop­erty and money (your es­tate), ac­cord­ing to Laws of In­tes­tacy

2 Mar­riage When you marry or re­marry, your pre­vi­ous Will is au­to­mat­i­cally re­voked. As se­cond mar­riages aren’t uncommon, it is im­por­tant to make sure that your Will ac­cu­rately re­flects your wishes and pro­tects your loved ones ac­cord­ingly

3 Divorce When a divorce takes place, it does not au­to­mat­i­cally re­voke a Will. If your wishes have changed (e.g. a change in ben­e­fi­ciary), you must up­date your Will. Should you fail to do so, your new wishes will not be taken into ac­count

4 New fam­ily mem­bers Hav­ing new ad­di­tions to your fam­ily is an ex­cit­ing time, but it also means that you should look at re­view­ing your Will to make sure the wishes it ex­presses are still valid

5 Death If a loved one dies, you should look at re­view­ing your Will as the loss of a loved one may have an im­pact on who ben­e­fits from your es­tate

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.