Planning for the future is as important as living in the present! Here are some essential tips from our expert team at Heringtons Solicitors on updating your will:
1️⃣ Regular Reviews: Life changes, and so should your will. Review it periodically, especially after major life events such as marriage, divorce, birth, or death.
2️⃣ Executor Update: Ensure your chosen executor is still willing and able to fulfil the role. If circumstances have changed, it might be time for a revision.
3️⃣ Guardianship Decisions: If you have minor children, confirm your designated guardians are still suitable and willing to take on this responsibility.
4️⃣ Asset Changes: Keep your will aligned with your current financial situation. Include new assets, and remove any that are no longer part of your estate.
5️⃣ Digital Assets: In our digital age, don't forget to account for online assets. Consider including instructions for access to digital accounts and assets.
6️⃣ Healthcare Directives: Review and update your healthcare directives to ensure they accurately reflect your wishes in case of medical decisions.
7️⃣ Tax Considerations: Stay informed about any changes in tax laws that may affect your estate plan. Consulting with a professional can help you optimise your plan.
8️⃣ Family Changes: In the event of marriages, divorces, or changes in relationships, update your will to reflect the current family structure.
Remember, your will is a living document that should evolve with your life. Our team is here to help you navigate these changes and ensure your wishes are always up-to-date. For personalised guidance, contact us