Convenient Wills, 16 Thomas Avenue, Newcastle-
A Will is an ‘evolving document’. By that we mean that it should change to reflect the testator’s changing wishes as his/her own, and those of his/her beneficiary’s, circumstances change. For example:
Different priorities: Aspects that were not a concern at the time an original Will was made may now become a priority. e.g. protecting the family home from being used to fund long-
Guardians: The demands of a 6-
Growing family: You may still have the same number of children but do you now have grandchildren/more grandchildren/a disabled grandchild/a step-
Executor appointment: Originally you may have appointed your parents as executors or reserve executors, or perhaps you appointed a solicitor. With the passage of time your own children (or even your grandchildren) will often become better suited. Your Will needs to be updated to effect the change.
Child resident: A child that was living with the testator years ago as a minor may now be still living with the testator but as an adult. That adult-
Inheritance tax liability. As we progress through life we quite often inherit monies. Those inheritances may now have created an inheritance tax liability. A Will can sometimes help mitigate this liability.