When Life Changes but Your Will Doesn't

12 hours ago

5 min read

Somewhere in a drawer, filing cabinet, solicitor's office or storage facility, there may be a Will that was perfectly sensible when it was written.

It names the right people, reflects the family circumstances of the time and sets out arrangements that everybody was comfortable with. It was signed, witnessed and safely put away, accompanied by the reassuring feeling that an important job had finally been done.

And then life carried on.

Children grew up, marriages began and ended, grandchildren arrived and people who once played central roles in our lives gradually became less involved. Perhaps a loved one died, a new relationship blossomed or the family home was sold. Each change seemed like part of the ordinary business of living, rather than a reason to revisit something written years earlier.

The Will, meanwhile, remained exactly where it had always been.

A snapshot of another life

Think about how different your life was fifteen or twenty years ago. The people you saw regularly, the places you lived, the things you worried about and the plans you made for the future may bear surprisingly little resemblance to your circumstances today.

Yet many people continue to rely on Wills written during that earlier chapter.

A couple might have prepared their Wills when their children were young, appointing relatives as guardians and naming trusted friends as executors. Twenty years later, the children are adults with families of their own, the appointed executors may be elderly or have moved abroad, and the couple's financial circumstances may have changed considerably.

Alternatively, someone may have written a Will following a divorce, leaving their estate to their children. Years later, they have formed a new relationship and are sharing a home with somebody who has become an important part of their life.

They may assume their partner will automatically be protected, without appreciating that unmarried partners do not generally inherit under the intestacy rules in England and Wales, and that an existing Will may make no provision for them.

Nothing necessarily went wrong when the original Will was prepared. The problem is simply that the document belongs to a life that has moved on.

The changes that matter more than we realise

Some life events have particular legal consequences. In England and Wales, marriage or civil partnership will generally revoke an existing Will unless it was made in contemplation of that particular marriage or civil partnership and satisfies the relevant requirements.

Divorce or dissolution usually has a different effect. It does not automatically revoke the whole Will, but broadly speaking, provisions concerning the former spouse or civil partner are generally treated as though that person had died, subject to any contrary intention expressed in the Will.

Other changes may not affect the Will's formal validity at all, but can fundamentally alter whether its provisions remain appropriate.

A beneficiary may develop financial difficulties. A child may enter a troubled marriage. Someone originally appointed as an executor might no longer be willing or able to undertake the role. A growing estate may introduce inheritance tax considerations that were irrelevant when the Will was first written.

Even apparently happy developments can create complications. The arrival of grandchildren, for example, may prompt someone to reconsider how they want their estate to benefit future generations, particularly if they wish to provide protection rather than simply pass assets outright.

A Will doesn't grow old because of the date on the paper. It grows old when the life it describes no longer exists.

When the right people are no longer the right people

One of the most easily overlooked aspects of an older Will is the appointment of executors and trustees.

These are the people who may have to deal with financial institutions, property, taxation, beneficiaries and, in some cases, complicated family circumstances. Their responsibilities can be substantial, and the role may continue for many months or even years.

Someone who was an excellent choice fifteen years ago may no longer be the most appropriate person today. Age, health, geography, family relationships and personal circumstances can all make a difference.

That does not mean their original appointment was a mistake. It simply means that the qualities and availability needed to carry out the role should be considered in the context of the present, rather than the past.

The same applies to trustees, particularly where arrangements may need to operate for many years after death.

A review is not the same as starting again

One reason people postpone reviewing their Wills is the assumption that doing so will inevitably involve a lengthy, expensive exercise.

In reality, a review may reveal that the existing arrangements remain entirely appropriate. Sometimes only a modest change is needed. On other occasions, a more substantial revision may be advisable, especially where family relationships, assets or protection requirements have altered.

A useful starting point is to read your existing Will as though you were seeing it for the first time. Ask yourself whether the people named are still the right people, whether the intended beneficiaries are adequately provided for and whether the arrangements still reflect your priorities.

It is also worth considering whether your Will provides sufficient protection against circumstances that may arise after your death, such as remarriage, divorce, financial difficulties or the vulnerability of beneficiaries. These are not necessarily reasons to distrust anybody. They are simply possibilities that thoughtful planning can take into account.

For many people, reviewing a Will every three to five years, or sooner following a significant life event, is a sensible habit. Any changes should be made using the appropriate legal formalities, rather than handwritten alterations to the original document.

Keeping pace with the person you've become

There is something rather comforting about having a Will safely tucked away. It represents a decision made, a responsibility addressed and one less thing to worry about.

But estate planning should never be regarded as a single moment in time. Our lives are constantly evolving, and the arrangements we make for the people we love should be capable of evolving with them.

Perhaps the greatest value of reviewing an old Will is not discovering what needs changing, but confirming what still matters. It offers an opportunity to think about the relationships, responsibilities and priorities that define your life today.

The Will you wrote years ago may have been exactly right for the person you were then.

The important question is whether it is still right for the person you are now.