It has been estimated that approximately two-thirds of the UK population have not made a Will. What is less documented is how many of these keep them under regular review.
People make Wills for a variety of reasons. Often these Wills are never or rarely revisited. A Will is the only opportunity to set out your wishes following your death. If those wishes become outdated or inaccurate over time, then in some cases the situation created on death is actually worse than if there had been no Will at all. Here are some reasons why it is important to review your will.
A divorce means that an ex-spouse is treated as deceased for the purposes of the Will from the date of the decree absolute. Marriage, on the other hand, revokes a Will entirely. Wills can be made in contemplation of a marriage, meaning that they will survive this event, but this needs to be made clear in the terms of the Will. Alternatively, following a marriage, a simple codicil can be prepared which will republish your previous Will and codicils.
Specific gifts should always be kept under review, for example a gift of a property. If the item or property is sold or disposed of, then the gift in the Will shall fail. Also, over time, executors appointed under an old Will may die, become incapable, or simply unsuitable to act. In these cases appropriate changes should also be made.