Changing your Will – everything you might need to know.
When you die, you want to ensure that your assets go to the right people without the burden of unnecessary tax or complications. When you already have a Will in place, you may be surprised to find that life changes can leave it out of step with current legislation, or worse invalid.
Here we explain when you might want to consider an update to your Will, and how you can go about it.
Why you might be considering changing your Will.
Changes in your personal life or finances may mean that it is time to update your Will. However, here we’ve outlined a few specific instances where updating your Will would be necessary.
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You've just got married, or are planning to.
Marriage revokes a Will so if you have recently got married then any Will you made prior to your marriage may no longer be valid. A Will is only valid after marriage if you make it in contemplation of that marriage.
It is particularly important to make a Will if you are getting married and you have children from a previous marriage or relationship. If you would like to protect assets for your children then you can do this via your Will. You can draft your Will to provide for your new spouse during their lifetime, whilst protecting your assets for your children.
If you remarry, but do not update your Will, then your estate may become subject to the strict intestacy rules which means your estate may not pass to your intended beneficiaries. Under the intestacy rules, if you die with a spouse and children, your spouse will inherit personal possessions, jointly held property and the first £322,000 of your estate and the balance of your estate will then be divided between your spouse and children. 50% of the balance would pass to your spouse and 50% would be divided between your children once they reach 18.
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You've just bought a house with your partner.
If you have bought a house with a partner but you are not married then you may want to consider updating your Will. Whilst joint property can pass to a joint owner without a Will, any other assets such as cash, savings and investments in your sole name will not pass to your partner without a Will. Cohabitees are not recognised as a beneficiary under the intestacy rules and therefore if you want your partner to inherit it is important to consider making a Will.
Cohabitees also do not benefit from the same inheritance tax exemptions as a spouse. When we review your Will we also provide inheritance tax advice and we can therefore assess your inheritance tax liability and advise you and structure your Will accordingly.
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You've recently had children.
If you have recently had a child/children, it is a good time to review and update your Will. In your Will you can appoint a guardian for your children and also make sure you have made sufficient provision for your children should anything happen. If you do not have a Will in place then social services or the Court can step in to decide what happens to your children. A Will allows you to appoint legal guardians and avoid the risk of the Court stepping in.
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The value of your assets has changed.
Asset changes will not usually affect your Will but may affect your liability to inheritance tax. Reviewing your Will with a solicitor will give you an opportunity to review your inheritance tax position, we can offer you guidance on your unique situation and help you minimise Inheritance Tax where possible.
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You're impacted by regulatory changes.
The Autumn Budget 2024 introduced a number of changes which may affect your liability to inheritance. It was announced that the nil rate band and residence nil rate band will be frozen at £325,000 and £175,000 respectively, with house prices increasing this means that more and more people are paying inheritance tax.
In addition to freezing the nil rate bands, the budget also announced changes to Agricultural Property Relief, Business Property Relief and how Pensions are taxed as part of an estate. From 6 April 2026, 100% Agricultural Property Relief and Business Property Relief will be capped at a combined £1 million per person. Unlike the nil rate band and residence nil rate, these allowances are not transferable between spouses so if not used on first death will be lost.
From 6 April 2027, value held in a UK registered pension scheme will be subject to inheritance tax.
When we review your Will we review your liability to inheritance and advise how you can mitigate your liability to inheritance tax. We can also look at structuring your Will to provide your executors with flexibility and also the ability to claim exemptions where available.
How to update your Will.
The best way to update your Will is to contact a Will writing solicitor. You can create a Will yourself, but it is sensible to have a solicitor review any Will to ensure that you and your beneficiaries avoid any potential issues in the future.
How quickly can you update your Will?
Updating your Will is a fairly quick process.
We have an initial meeting you, either in person or video call, to take your instructions. We then prepare a new Will for you along with a letter of advice.
Once you have approved your draft Will we then arrange for your Will to be signed. This is usually done in person with a solicitor. In total it would usually take two to four weeks depending on appointment availability.
When might you use a codicil?
A Codicil is a document that amends a previously executed Will. It can be used to amend any clause in a Will.
For a codicil to be valid, it has to be executed in the same way as a Will and it needs to be signed in the presence of two witnesses. Often, we see clients who have intended to make a change to their Will and written a note or attempted a homemade codicil but have not properly executed it which has rendered the document invalid.
Can an executor or beneficiary make changes to a Will?
An executor cannot make any changes to your Will. A beneficiary however can vary their interest in an estate through a deed of variation.
Do you need a solicitor to update your Will?
You do not necessarily need a solicitor to draft a Will however drafting a Will yourself or using an unregulated Will writer does come with risks.
DIY wills are often invalid as they are not executed correctly. Wills have to be signed in the presence of two independent witnesses. If it is not signed in the presence of two independent witnesses then it will not be valid. There are also other requirements for a Will to be valid: a person making the Will needs to have capacity and understand the contents of the Will, the size and extent of their Will and be able to identify if anyone may have a claim on their estate. An experienced solicitor will assess both when making a Will which can help avoid claims and disputes in the future.
Many problems arise with DIY which make administering a Will difficult and more costly later on. The common problems that arise with DIY Wills include:
- no executors being appointed;
- beneficiaries not being clearly identified;
- an estate not being full administered so a partial intestacy arises. This is very common with DIY packs, clients fill out who they want their property to go to but fail to include a residuary beneficiary so the rest of their estate (cash/savings) is not distributed.
Another problem with DIY Wills is that no advice is obtained with regards to inheritance tax and costs.
Using a solicitor can ensure you a have a valid Will and can provide you with peace of mind that your estate will pass to your intended beneficiary.
How much does it cost to update your Will?
Our costs* for updating a Will are as follows, with the bands explained below:
| Types of Will | Single Will (Ex VAT) |
Pair of Wills for a couple (Ex VAT) |
| Straightforward circumstances | £450 – £700 | £650 – £1,100 |
| Complex family and financial circumstances | £750 – £1000 | £1,100 – £1,725 |
| Complex business circumstances and estate planning | From £1,640 | From £1,860 |
*Costs correct at time of publishing and subject to change, including variations for London office rates. Please contact us if you want to find out more about how much your Will might cost.
Straightforward circumstances.
This package will be suitable for you if your family and/or financial circumstances are fairly straightforward and your assets are below the relevant inheritance tax threshold. It may not be appropriate when there are children from previous relationships, vulnerable beneficiaries, where you are seeking to exclude beneficiaries or where there are any reasons why using trusts in the Will(s) would be sensible.
Complex family and financial circumstances.
This package would be appropriate for more complex family and financial situations. For example, where there are children from previous relationships, where your estate is liable to inheritance tax or where you are looking to protect assets such as the family home.
Complex business circumstances and estate planning.
This package combines the previous ‘complex family and financial circumstances’ package service with additional advice on inheritance tax planning, the effect of domicile, foreign assets, advice on business property assets and agricultural assets and advice on how to structure your estate accordingly. This package would also be appropriate where one or both of you may be a widow(er) to ensure the Wills are as tax-efficient as possible.
Updating a Will after a death.
There is a way in which certain provisions of a Will can be changed after death. This is done through a “deed of variation”.
Where beneficiaries inherit under a Will, they can, in certain circumstances, and subject to certain requirements, redirect their entitlement to others with the effect being as though that person inherited directly from the deceased rather than the original beneficiary.
A deed of variation can only be made by a beneficiary and not an executor.
Contesting a Will after death.
If you’re seeking a change to a Will because you have a dispute with another beneficiary or executor, you may wish to understand more about contesting a Will.
If you think you might need to update your Will, and want peace of mind that any changes will ensure your estate is administered as you wish and without unnecessary tax costs, contact our specialists today.
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