A regional law firm has urged people to review their wills following new research showing that half of documents are out of date.
Ellis Jones Solicitors has issued the call during Solicitors for the Elderly’s (SFE) Update Your Will Week from March 28 to April 3 to raise awareness about the importance of regular reviews.
Research commissioned by SFE has revealed that almost half (48%) of people living in the south of England who have a will haven’t updated it for more than five years, meaning nearly half of wills made in the area are likely to be out-of-date.
Of those, over a third (33%) haven’t updated it for over seven years and over a fifth (21%) haven’t dusted it off in more than a decade.
Associate Solicitor Nicola Hall, of Ellis Jones’ Wills, Trusts and Probate team, said: “Many people assume that once you have drafted a will you don’t ever have to review it, and that your wishes will be carried out as you wish them to be posthumously – but unfortunately, that’s far from true.
“If you remarry, for example, your will gets revoked. Or if you marry into a family and have stepchildren that you’d like to inherit your assets. This won’t happen automatically unless you stipulate it in a new will.
“All these details are crucial to avoid family disputes, which we know can be very distressing for your loved ones.”
Nicola, who is a SFE-accredited solicitor, added: “It is important that a will is reviewed and updated every five years or when a major change in your life occurs.
“Update your Will Week is a timely reminder to carry out this review or give instructions for a will to be drawn up if you don’t have one.
“It will bring peace of mind and ensure all of your affairs are in order.”
SFE’s research revealed that:
- Only 16% of Brits realise that remarrying invalidates a will
- Less than a third (31%) of people realise stepchildren won’t be included in your will unless you stipulate that separately
- 17% of people wrongly think you can update your will by making changes on the original document and initialling them
- 53% of people in the south of England don’t have a will in place at all
Visit www.ellisjones.co.uk for more details.