Moving? Change your will

A THAMES Valley law firm is urging people to review their wills when moving house.

As the UK’s property market booms, Daniel McGurk, solicitor at Blandy & Blandy, said people should always make or reassess their documents when up- or downsizing.

“Your home is one of your biggest assets,” he said, “and it is vitally important that you ensure your will is kept up to date to reflect your wishes and to protect your family’s future interests.”

According to Mr McGurk, the way people own property affects their wills.

Joint tenants, who own the home with somebody else, will see the property automatically passed onto the surviving owner.

“This transfer happens automatically, regardless of what is stated on your Will,” he said.

“Think of it like a joint bank account – when one of the owners of the account dies, their name is simply removed from the joint account, leaving it in the sole name of the survivor.”

But if a house is owned by ‘tenants in common’ who each have a share of the property, people have much more control over their assets.

“When you die, your share of the property will pass in accordance with the instructions in your will,” Mr McGurk explained.

He said Blandy & Blandy can check how people are holding their properties if needed.

“Remember too that your address appears in your will and is one of the ways used to identify who the owner of the will is,” he added.

“Keeping the address on your will up-to-date is very important and if you move you should get in touch to take advice on what changes need to be made.”