New research has revealed that over half (52%) of UK adults over the age of 30 do not have a will in place. Even more concerning is that an additional 13% of those who do have a will admit that it needs updating. As part of Update Your Will Week, O’Donnell Solicitors is urging clients to take action to ensure their affairs are in order.
Why Updating Your Will Matters
Without an up-to-date will, your estate will be distributed according to intestacy rules, which may not reflect your personal wishes. These rules prioritise specific family members, which can sometimes lead to unintended consequences or even disputes among loved ones.
Failing to update your will can have serious implications. Without a valid will, your family may face an extended process in obtaining access to their inheritance, increased inheritance tax liabilities and additional emotional distress. Your assets could end up being distributed in a way you never intended, which may create financial hardship for those you wanted to provide for.
Life Changes That Require a Will Update
Many people assume that writing a will is a one-time task, but this is far from the case. Life is ever-changing, and major events can significantly impact how you would want your estate to be distributed. It’s recommended that you review and update your will every five years or after a major life event, including:
- Marriage or entering a civil partnership
- Divorce or dissolution of a civil partnership
- The birth of a child or grandchild
- The death of a beneficiary or executor named in your will
- A change in financial circumstances, such as acquiring new property or investments
By keeping your will updated, you ensure that your assets go to the people you intend and that your loved ones are taken care of according to your wishes.
Seek Expert Legal Advice
Updating your will is one of the most important things you can do to protect your loved ones. Seeking advice from an experienced legal professional ensures your will is legally valid and structured to minimise inheritance tax where possible.
At O’Donnell Solicitors, we offer expert guidance to help you draft, review, and update your will to reflect your current circumstances. If you haven’t reviewed your will recently or need assistance in drafting one for the first time, now is the perfect time to take action.
For more information or to book an appointment with one of our Private Client solicitors, contact O’Donnell Solicitors today .
