How often should you review your will?

2 Min Read

When making a will, many people assume it is a ‘one and done’ to be ticked off their life list. However, this shouldn’t be the case. Life, circumstances and sometimes the law change and it is advisable to review your will every three to five years.

Changes to inheritance law in Guernsey

If you made your will before 2 April 2012, the law on inheritance (forced heirship) changed. Prior to this date, the law required you to leave a specific portion of your estate to specific family members. The revision to the law now means you can leave your assets to whomever you choose. This is called full testamentary freedom. However, advice may be required if excluding close family members or dependents.

When a will should be updated

Specific life changes often require a change to a will. These can include marriage, divorce or a judicial separation. A birth or an adoption of children or grandchildren may require an update to a will.

The death of a beneficiary or executor of a will may also require an update, as would a significant change in financial situation or assets. Relocation or changes in residency status would require a will to be updated.

It is best to consult an advocate who can provide you with advice tailored to your individual circumstances.

Speak with a Guernsey-qualified Wills & Probate advocate

If you need a new Will or an update to your Will, our team can help. Visit Wills & Probate to learn more or Contact Us to arrange a consultation.

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