5 Crucial Moments to Update Your Will: Deciding the Right Time to Write a Will

Writing a Will is a fundamental step in managing your affairs and ensuring your loved ones are cared for according to your wishes after you’re gone.

At The Legacy Wills Company, we frequently encounter individuals uncertain about the ideal time to draft or update a Will. 

This guide aims to demystify the process, highlighting life milestones that necessitate a Will and the consequences of postponing this crucial task.

When to Consider Writing a Will

  1. Buying a Home

Acquiring property significantly increases your estate’s value, making it crucial to decide who inherits such an asset. Whether you wish to pass it on to a spouse, children, or other relatives, a Will guarantees your property’s future is as you intend.

  1. Marriage

Marriage automatically invalidates any Will you had previously, necessitating a new Will that reflects your current familial setup and how you wish to distribute your estate among your spouse and any step-children or dependents.

  1. Divorce

Divorce doesn’t annul your Will, but it does cancel any gifts to a former spouse. It’s essential, then, to review and possibly revise your Will to ensure it aligns with your new life circumstances and relationships.

  1. Welcoming Children

For parents, especially of minors, a Will is critical. It allows you to appoint guardians for your children, ensuring they’re cared for by trusted individuals if both parents pass away. 

Without a Will, the state decides on their guardianship, possibly against your preferences.

  1. Starting a Business

Business owners should have an updated Will outlining succession plans and asset distribution. 

This foresight ensures your business continues smoothly and supports your family as intended after your demise.

The Risks of Not Having a Will

Without a valid Will, your estate is distributed according to the Rules of Intestacy, which may not align with your wishes. 

This can particularly disadvantage unmarried partners, as they receive nothing, regardless of the relationship’s length. 

Moreover, the absence of a Will can lead to familial disputes and unnecessary stress during an already challenging time.

How The Legacy Wills Company Can Assist

The thought of writing a Will can be overwhelming, but you’re not alone. 

Our experienced team offers comprehensive guidance, ensuring your Will accurately reflects your wishes and provides for your loved ones. 

We take pride in our personalised approach, ensuring a smooth and understanding process for everyone involved.

If you’re considering writing a Will or need to update an existing one, The Legacy Wills Company is here to help.

Our experts are equipped to handle estates of all sizes and complexities, ensuring your peace of mind. 

Book a FREE discovery call to secure your legacy and protect your loved ones with The Legacy Wills Company.

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Client Testimonial

“Having seen John of Legacy Wills present at a property event, it was clear he had both the breadth of knowledge and experience and also the ability to make a very dry subject both understandable and engaging. That’s a tough call when talking about Wills, Trusts and death. John produced Wills and POA’s for myself and my wife in a timely, effective and reasonable manner. I have subsequently recommended him to numerous colleagues and friends to cut out the jargon and challenges surrounding this critical protection, which is too often deferred or neglected.”

Dan Norman