Update Your Will Week 2023.
This week (23rd – 29th January) is Update Your Will Week, an awareness campaign hosted by Solicitors for the Elderly (SFE) to encourage more people to update their will and ensure their wishes are carried out when they pass away. This helps minimise disputes, costs and eases distress for your loved ones. New research commissioned by SFE revealed only 56% of UK adults have updated their Will within the last five years, meaning around half of Wills are out of date.
The study also showed that half of UK adults have experienced a life changing event, such as getting married, divorced, or having a child, since last updating their Will. We recommend that Wills are reviewed and updated every five to seven years, or when a major change occurs that impacts you or your loved ones.
In addition, a recent study by Royal London found that only 40% of the adult population have a Will at all, leaving how their estate is distributed, and who is in charge of dealing with matters to the statutory rules called the Intestacy Rules. This sets out who will inherit and at what age and may not reflect your wishes or lead to unnecessary tax or trusts arising.
Our Wills, Trusts and Capacity team are here to support you making changes to an existing Will or creating a new one. Our experienced lawyers will be able to provide support and guidance as you discuss your unique situation and wishes and can also help you review and potentially reduce your inheritance tax bill.
Many of our team are STEP and SFE lawyers - experts in this area of law who follow a strict code of conduct which has respect and dignity at it’s heart. Communicating in a clear, straightforward language, we are trained to make sure you understand the important decisions you’re making.
Please get in touch with us today on 01788 579579 or info@brethertons.co.uk – we are here to help.