FINANCE
WHERE THERE’S A WILL
THERE’S A WAY This article shines a light on the importance of having a will and keeping it up to date in a ‘socially-distanced’ world.
PMW Trust offers a comprehensive will writing service for new and existing clients and we have seen a significant increase in requests for wills to be reviewed and redrafted, as now more than ever, people seek the peace of mind in knowing that their will is up to date. This increase in demand occurred at a time when some ingenuity was required to deliver our service remotely. Our in-house solicitor, Julie Rowe, has shared some of her recent experiences.
WHEN SHOULD YOU UPDATE YOUR WILL?
Updating a will is often one of those things that we know we have to do, but never quite get around to. If you haven’t reviewed your will in the last five years, even if you haven’t undergone any significant life changes, you should check that it still reflects your wishes and that it hasn’t been affected by any changes in the law. In more recent
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years there have been a number of major changes to inheritance tax laws, which have resulted in the need for many people to review their wills, even if their wishes have not changed. If you have undergone a significant life change, then you should also review your will to ensure that it is still valid and that you have included all intended beneficiaries. Significant life events that might affect your will include (but are not limited to): n marriage n divorce n the arrival of new children or grandchildren n someone named in your will dies before you n your executor dies or is no longer suitable or willing to act. Ensuring your will is up to date could save your beneficiaries time and money when settling your estate and reduce the likelihood of any family disputes.
WRITING A WILL AND STAYING SAFE
We appreciate that many of those looking to update wills are considered clinically vulnerable and may be nervous about the thought of meeting a solicitor face-to-face. With this in mind, we have been providing virtual consultations or telephone calls to discuss wills and manage all aspects of estate planning, without the need for a meeting in person. For those preferring to meet in person we have also provided socially distanced face-toface meetings.
❛❛ Recently, the law
of wills in England and Wales has been amended to allow remote electronic witnessing of wills ❜❜
