We believe it is so important that a client reviews his or her will regularly, that we invite all our will clients to a free review meeting every two years. We also extend this invite to any new clients who have not made their will with Wolferstans.
The review meeting is an opportunity to go through the will and ensure you understand each provision and it still reflects your wishes. You can update us on any changes in your personal circumstances and we can advise if this affects the contents of your will in any way. It is very important that a will is reviewed following a marriage, civil partnership or divorce; as your will could have been revoked either in its entirety or partially. During the meeting, it is also useful to tell us if the personal or financial circumstances of any of your beneficiaries have changed. If a beneficiary has sadly died, we can let you know if the gift will fail or if it now passes to another beneficiary. Very often, clients wish to update their wills following the birth of a grandchild so to that they can be left a gift or share of their estate when they die.
Your own financial position might have changed since signing your current will – this could be because you have now retired or because you have inherited assets from a relative. We can advise if your estate is likely to have to pay inheritance tax when you die and if there are any reliefs available. The laws surrounding how your estate is taxed also change regularly; sometimes a small change to your will allows your estate to qualify for tax relief, which might save a significant sum of money from going to HMRC when you die.
We can also advise you as to the benefit of making wills containing property trusts. These wills are particularly useful for couples who jointly own a property and want to ensure that the survivor has the right to continue living in the property but their share in the property passes to their named beneficiaries (i.e. their children) when the survivor dies.
Please contact our Client Services team on 01752 292201 to arrange your will review meeting with one of our specialist lawyers. The meeting can take place in one of our offices or by video or telephone call. There is no fee for this initial meeting but if a new will or other document is recommended then we will advise you of the fee for this during the meeting.