Q: I made a new Will after I got divorced as I heard it would be null and void because my wife was the main beneficiary. That was thirty odd years ago though, so I am wondering if that Will might also be out of date now. Is this the case?
A: A valid Will made in the UK remains valid and ‘in date’ until the person who made it revokes or replaces it. After a divorce, however, a former spouse named in the Will is treated as deceased in respect of inheritance and executorship. For clarity it is therefore always best to create a new Will after divorcing.
We often talk about the need to ‘update a Will’, but that is a practical need rather than a necessary requirement, and it is generally because someone’s circumstances or intentions have changed. Over time life circumstances change for most people. They may have embarked on a new relationship, have had children and grandchildren, acquired property, investments and other assets, all of which can affect how they want their estate to be distributed upon their death. In addition to this, particularly as people get older, it may be that their original executors and/or beneficiaries are no longer alive or cease to become suitable choices.
A further consideration, as people get older, is changes to inheritance tax rules. Such changes have been known to not only affect the overall tax efficiency of an estate plan by increasing the IHT liability but in some cases have rendered existing tax provisions ineffective.
To keep on top of things you should consider reviewing your will every 3–5 years, and certainly after a significant life event. To update your Will in respect of minor amendments you could add a codicil. If, however, more significant changes are needed you should make a new Will which will revoke your old one.
This question has been answered by Ulia Choudhry, a Partner with GHP Legal. If you would like to speak to someone about this or any other legal matter, please visit our website www.ghplegal.com and use the contact us form, or call us on: Wrexham 01978 291456, Llangollen 01978 860313, Oswestry 01691 659194
