The importance of keeping your Will up to date

At Watson Ramsbottom we believe that it is imperative that you consider your existing Will and if you do not have one, to put one in place.

Many people have misconceptions about the size of their estate and who would benefit from their assets.

Only by making a Will can you be absolutely certain that your estate will be divided as you wish. You can decide what will happen to your property and possessions after your death, ensuring that your loved ones are provided for and that they have one less thing to worry about.

This is especially important if you have property or other valuable assets, and even more so if you have dependent children.

In a recent case we have administered, significant problems resulted from the deceased not updating their Will.

The deceased had previously made a will whilst she was in the process of divorcing her husband.

For reasons of separation, she removed her husband from her will and appointed her best friend to be the executor and sole beneficiary.

The will was signed and executed.

Following the separation from her husband, years passed and the deceased lost contact with her friend and began a new relationship with a new partner and the new partner sold his property in order that they could live together in her home.

The deceased passed away suddenly and had not updated her will.

The result was that her estranged friend was not only the sole beneficiary of her estate, but also responsible for dealing with her assets including the property.

The partner of the deceased was not mentioned in the will and therefore brought a claim against the estate.

An agreement was reached at a lengthy delay and cost to the estate.

This situation is unfortunately quite typical and we would recommend that you seek advice in order to update your will.

Please call Patrick Swanney to arrange a free initial consultation on 01254 67 22 22 or contact a member of our team at any of our office locations.