What happens at a Will review?

We suggest that most people should review their Wills at least every 5 years. If there has been a change in your financial or family circumstances we recommend that you review your Will immediately.

You may have received a call from us asking if you would like a review meeting and perhaps you are wondering what will happen? Well, the meeting has two purposes:

1. For us to ascertain whether there have been any changes in your circumstances or wishes which would mean you might need to change your Will.
2. So that we can explain any changes in the law and taxation (particularly inheritance tax) which might mean that the way your Will has been written could be improved upon in light of any new rules.

If we identify some changes, improvements or additional provisions that may be needed, we will explain any charges to you during the meeting, clearly and transparently. It is important to remember that once a Will has been signed, any changes made would invalidate it. So, if there are any significant changes to your Will that we recommend, you will need to make a new Will. The cost of making the new Will will normally be less than a new client would pay for Wills.

Finally, if your estate is worth over £325,000 for a single person or £650,000 for married couples or single partners, there may be significant benefits to changing your Wills if you have not changed them since April 2017. There are additional tax allowances now available which may be lost if your current Wills contain certain trusts.