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Alterations to your Last Will |
| Can a Will be changed? |
|
You can make alterations by adding a
Codicil to your last Will, but if the alterations were extensive then it would be
advisable for you to prepare a new Last Will. Do not, under any circumstances,
attempt to write in any additions or make any alteration to your last Will after it has been
prepared. Do not pin, staple, or clip any papers to your Last Will. It is recommended that you
should re-write your Last Will if there are changes to be made in it.
Please read below for our solution.
In most cases people prefer to write a new Last Will. It is often simpler to do
this.
|
| Making
changes to your last will
Keeping your Last Will up to date with WiseWills
Optional Service
JUST £5:00 PER WILL PER YEAR |
| WiseWills Offer an annual retainer service. This service guarantees you that
we shall write you a new Last Will and Testament whenever you want to
amend or change any details in it, no matter how small, or how often, so
long as you continue with the £5.00 per annum premium. We
will keep a copy of your will and shall replace it, ready for
witnessing, if it is lost, damaged or destroyed. The premiums are guaranteed
to stay fixed at £5.00 per annum, per Last Will for no less than five years from the date of your
first premium. |
| Just think!
How long did it take you to get around to making this Last Will and
Testament? Take out our retainer service and you will use it often, we
guarantee it. Imagine only the simple changes that happen, like the next
time you move house, or your executors, guardians or children do, need we
go on! JUST £5.00 PER YEAR, PER LAST WILL & TESTAMENT. |
|
Don’t forget if you have taken this option you may also seek our advice
in the future; free of charge, with questions or concerns you have
regarding your will.
Here are just some of the events that would ordinarily require a change
to your last Will. Certainly there are other reasons.
- If you marry or divorce
-
If you join
together into a civil partnership or dissolution or annulment of a
civil partnership.
- The birth or adoption of
children
- To add or change
guardians for children
- A significant change in
financial status
- A significant change in
tax laws
- A desire to add
beneficiaries
- A desire to change
beneficiaries
- The death or incapacity
of a named executor or trustee
- To change personal
details like address changes for you or someone mentioned in the
will
- You may also seek our
advice in the future; free of charge, with questions or concerns you
have regarding your will.
-
We shall
also keep a copy of your Will
and shall replace it if for you ready for witnessing if
it is
damaged, lost or destroyed.
NOTE:
We would not however replace it for a third
party after your death.
We will send you an annual
standing order form after we have received your remittance.
JUST £5:00 PER WILL PER YEAR |
| Can
My Last Will and Testament be changed After I have died ? |
| In
certain circumstances, your Last Will may be changed after you have
died. There may be problems in the interpretation of your Last Will,
which may cause ambiguity, or the Last Will may be contested. A Last
Will may be contested if there are members of your family who are of the
view that they are entitled to a part of your estate, but have been
omitted from your Last Will. It is for this reason that you should have your
Last Will prepared by a professional. Frequently, DIY or homemade
Last Wills fail because basic wording has been used, and or, in cases of
interpretation, when it is not possible for your executors to understand
exactly how they should administer your estate.
The famous
actor, Richard Burton, added to his Last Will. "That if
anybody contested any part of his Last Will they would lose any bequest
completely. |
| Quote from a badly
written DIY last will |
| "I leave everything to
my wife and on her death it is to be shared between my children" |
| An absolute disaster! The
husband wanted to leave everything to his wife, who would then, on her
death, leave it to their children. This statement means that his estate
by-passed his wife in favour of his children. His wife is
left merely holding his estate in trust for the children. |
| This is one of the reasons
why lawyers spend more time, and make more money, sorting out disputes
in badly drafted DIY Wills than they do from drawing them up. |
| |
| Can
I alter My Last Will and Testament Myself? |
| No.
A very important point to be aware of is that you must not alter an
existing valid Last Will in any way. You must not cross portions out or
add other words or blocks of text to it. You should not attaché extra
pages with clips or staples. It is far better to prepare a new Last Will
altogether and then destroy the old one.
|
| How
long is a last Will and testament valid
? |
| A
Last Will is valid until the Testator revokes it by making a new one, or
the Testator destroys it because he or she has changed his or her mind
because circumstances have changed for them.
Divorce can also affect the validity of some parts of a Last Will
and you almost certainly should make a new Will. |
| When
do You need a New Last Will and Testament ? |
|
It
is always sensible to review the provisions contained in a Last Will, to
consider if any change in your circumstances has altered the contents of
your Last Will. Changes can be in the form of a variety of events, such
as: the death of an executor or beneficiary that has been named: a
material increase or decrease in financial wealth, or the acquisition or
disposal of any other assets which may or may not have been provided for
in the existing Last Will. On re-marriage or divorce. A change of
guardian for your infant or infants. Changes in Tax legislation, most
particularly the levels set for the Inheritance Tax exemption ceiling.
It may be that a Testator can save Inheritance Tax liability from his or
her estate by careful inheritance tax planning.
Simple changes, like, address changes of witnesses or anyone pertinent
to the last will should also be considered. These people may, or will
need to be contactable, and their addresses are more often than not,
included in the text of your Last Will.
These
are just some of the reasons why Last Will and Testament should be
reviewed regularly. Certainly,
there are many more reasons depending on an individual’s circumstance.
A
very important point to be aware of, is that you must not alter your
existing Last Will in any way. You must not cross portions out, or add
other words or blocks of text to it. You should not attaching extra
pages with pins, staples or clips. It is far better to prepare a new
Last Will altogether and then destroy the old one.
|
| Am
I able to cancel my last Will and testament? |
| Yes.
You can revoke your last Will at any time by cancelling it. This is done
simply by destroying it, or by making a new Last Will. A new last Will,
dated and witnessed correctly, automatically revokes or cancels any
earlier Last Will made by you.
An new last will should include a clause cancelling any previous
last will made by you. |
|
Does
a change in my circumstances affect my last Will ? |
| You
can deal with minor amendments by way of a Codicil to your last Will but
it is not recommended.
Under no
circumstances should a Codicil be used if you wish to substantially
change your Last Will. If your circumstances change, for example, if you
get divorced, marry or re-marry, then you should make a new last Will.
Marriage will automatically revoke your Last Will unless you made your
Last Will in contemplation of being married.
For small gifts to individuals, you may add, by a separate sheet of
paper, what is called "a memorandum of wishes” where
you may list the small gifts, and recipient’s names. It is not part of
your Last Will but is acceptable for small gifts. The Will Bureau
includes a sheet for this in every will. We do not recommend gifts over
£150 to be added in this way. Every one is aware that people
promise to leave small items to friends, knowing that they admired them,
and would get pleasure from them, or that it would remind them of you.
It would be unrealistic if you had to make a new Last Will for such
promises. Other family members are often aware of such promises and
honour them in any case.
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