How often should your Will be updated?

If you have a will that was written several years, or even decades ago the decisions that you made may have changed. Relationships that have come and gone, or changes to your wealth status will influence how you would want your estate to be distributed amongst the named beneficiaries.

You should also consider that if you don’t have a will, or your will is not up to date when you die, your family will have to deal with the stress of sorting out your estate and disputing claims that aren’t agreed upon. This can be an emotionally difficult time, made worse by the added financial burden. Having a current will in place can make things much easier for your loved ones and ensure that your final wishes are fulfilled.

How many witnesses do need to sign a will?

When you write your will, attention to detail is crucial to ensuring that the will is valid and reflects your genuine intentions. One often overlooked yet essential aspect is the role of witnesses. In the UK is extremely specific about how a will must be signed and who should witness this signing, and for good reason. Witnesses serve as protectors of the will, helping to validate it and prevent fraud. They play a vital part in making sure that the testator’s final wishes are honoured.

 Unmarried couples do not inherit immediately.

If your partner dies without writing a Will, you will not be entitled to any portion of their estate. Their family members who inherit may choose to give you some of their inheritance, however they are not required to do so.  No everything is lost.

Firstly, you may own some assets jointly with your partner. These assets will not pass under the rules of intestacy but to you, under the rule of survivorship.

Secondly, certain categories of people are entitled to make an ‘Inheritance Act’ claim against an estate if they have not been provided for reasonably for under a Will or Intestacy. The law surrounding this is set out in the Inheritance Act. This Act permits claims to be made by a cohabitee, being someone who lived in the same household as the deceased as if they were a married couple or civil partners for at least two years leading up to the date of death, for ‘reasonable financial provision for maintenance’.

Can my son or daughter be a witness?

 Under the UK’s law of wills, a beneficiary of a Will is not prohibited from acting as a witness to the signing you Will. Such action is generally discouraged due to the potential that it could influence proceedings in an unfair manner. Law in UK requires the witness to certify that they saw the will made in accordance with legal requirements, which presents a clear conflict for a beneficiary of the will who may bear personal bias.

This strict requirement should be taken under consideration by those creating Wills in order to protect against such accusations coming up after their death or during guardianship hearings and other associated proceedings.

Why Do I need a Lasting Power of Attorney (LPA)?

An LPA isn’t something just for older people in poor health to consider. Anyone can have an accident or illness at any age that can leave you temporarily or permanently debilitated.

To set one up you must:

• Be over the age of 18
• Have full mental capacity
• Pay a fee to register it, unless you are exempt

You must set one up while you still have the mental capacity to make that decision to appoint someone yourself or the LPA may not be legally valid. Once you’ve lost mental capacity, it is too late.

“It’s a crucial financial protection, probably more important than a will. Martin Lewis”

 Differences and benefits of a Living and last will:

• Purpose: A last will deals with the distribution of assets after death, while a living will address medical care preferences.
• Timing: A last will takes effect after death, whereas a living will be activated when the individual is incapacitated.
• Content: Last wills focus on property and guardianship, while living wills focus on medical directives and healthcare decisions.

A living will be essential in circumstances like:

• Medical Incapacitation: Providing clear medical directives if you cannot communicate.
• End-of-Life Decisions: Specifying your wishes for life-sustaining treatments.
• Organ Donation: Indicating your preferences for organ donation.
• Reducing Family Burden: Easing the decision-making burden on family members during difficult times.