Do wills go out of date? The danger of an out of date will

Do wills go out of date?

While legally speaking, there is no fixed expiration date for a written will, the contents of the document can easily become outdated as time passes, and your circumstances change. If your will becomes outdated, it can result in issues such as your estate being distributed differently than you would have wished, your loved ones having to pay more Inheritance Tax, or disputes and challenges being raised.

It’s important, therefore, to keep your will as up to date as possible to ensure that it reflects your current circumstances and wishes.

When does a will become invalid or out of date?

Generally speaking, you should consider updating your will whenever your circumstances change. The following situations highlight good reasons for you to update your will:

• Buying a house – if you make any large purchases then it is worth updating your will. The average homeowner has over £214,000 worth of property - and estates valued at £325,000 or less can be passed on free of inheritance tax.
• Having children – you should appoint a guardian to raise the children if they are still minors at your death. You will probably want to ensure that a particular item or financial provision is left for them in your will. And you might need to revisit your will each time you have another child or grandchild so as to share the value of your estate or treasured possessions between them.
• If someone dies – if someone named in your will passes away then you should consider if you need to rewrite it. This could be someone you left a gift to, someone who was a guardian or perhaps an executor of your will.
• Separating – if you separate from your husband or wife then you should change your will. If you die before your divorce is finalised they could still be entitled to gifts from you, which you now may want to give to others.
• Marriage or remarriage – getting married or remarried after making a will automatically invalidates your will which could, for example, leave your children from your previous relationship financially unprotected in the event of your death.

What is the risk of an out of date will?

If your will is out of date, it can mean that those you leave behind will lose a greater share of your estate to pay more inheritance tax than might otherwise be necessary and your will could even cause a dispute between your family and friends falling out over their inheritance.

Disputes can occur when a will is so old that you can no longer recall exactly what it contains. You might find yourself telling your loved ones what you think it contains rather than what will happen to your estate when you pass away. If people expect to inherit something and then it turns out they do not have this in the will then there is more likely to be a contested will, which could lead to a family feud and substantial court costs.

It is also common for those who do not keep their will up to date to forget where it is kept. If your will cannot be found after your death, then the court can presume that you destroyed it, and your estate will be divided up according to a very strict set of legal rules called the rules of intestacy – your wishes will be overridden. So, keep your will safe in a place where it will be found or, better still, you can send it to us to look after it for you.

What should I do if I have an out of date will?

This will depend upon how outdated your will is. For instance, if your circumstances have changed dramatically, it is often a good idea to draft an entirely new will. Doing so will automatically void your previous will, though you should still ensure that the previous version is disposed of to prevent any confusion.

For minor changes to your will, you can make small changes to your existing will by making a legal supplement known as a codicil. Like your original will, the codicil must be signed and witnessed, and you can add as many codicils to your will as you’d like.

Crucially, you should not ever alter the original will directly; that is, do not write alternations directly on your existing will. Changes made in this way are not legally recognised and run a high risk of your will being challenged or being found invalid.

If you wish to make changes to your will but are unsure of the best way to approach the task, speaking to a specialist will solicitor can help to ensure your wishes are properly documented and your will remains legally sound.

Expert legal advice and support for wills and probate

Even if your circumstances haven’t changed, then we would recommend that you review your will at least every three years. There is usually room to update your will in a few different places even if your own personal circumstances have remained unchanged, for example:

• Where you have fallen out with a beneficiary and you no longer wish to include them in your will
• Where you have lost touch with the executor of your will – this can include where your executor is a solicitor if the firm has closed down
• Revising who you have appointed as guardian for your children because the person you have chosen is no longer appropriate, perhaps because of old age or because they have moved abroad.

To protect your wealth in accordance with your wishes contact the wills and probate solicitors at Slater and Gordon on freephone 0330 041 5869 or contact us online and we will be happy to assist.

All information was correct at the time of publication.