Now Is the Perfect Time to Make or Update Your Will

As the year ends you may naturally review what matters most. Making or updating your will is a practical way to protect the people you love, and it can also reduce stress and uncertainty for them when you are no longer there to explain your wishes. Below is clear, UK-specific guidance to help you take the next steps.

Why now is the right time to make or update your will

The end of the year prompts reflection, and the new year is a time for practical resolutions. A Will is one of the most important documents you can put in place, because it sets out who inherits, who looks after any children, and who deals with your affairs. If you already have a Will, an annual review makes sense; if not, now is a simple, meaningful step to take.

What a Will does for your family

A clear, legally valid Will helps you to:

• Choose who inherits - you decide which family members, friends or charities receive your assets.
• Protect children and vulnerable relatives - you can create trusts for under 18s or those with additional needs, so assets are managed for their benefit.
• Appoint guardians - if you have children under 18, a Will lets you name who should care for them.
• Reduce family disputes - clear wishes minimise uncertainty and potential conflict.
• Consider tax planning - a Will can include steps to use inheritance tax allowances effectively.

Example situations

• A single parent can name guardians and set up a trust to manage assets until a child is mature enough to inherit.
• In blended families, you can provide for your spouse while protecting children from a previous relationship using life interest trusts.

When you should update your Will

There are several life events that usually mean you should update your Will:

• Marriage, civil partnership, separation or divorce. In England and Wales, marriage normally revokes a Will unless it was made in contemplation of that marriage. Divorce does not always automatically update other provisions, so review your Will after any change.
• Birth or adoption of a child or grandchild.
• Buying or selling a property, significant changes in assets, or inheriting money or property.
• Changes in your relationship with an executor, beneficiary or potential guardian.
• Changes in tax rules or your estate planning priorities.

How to make or update your Will in England and Wales

Follow these practical steps to create a valid Will:

1. List your assets, debts and who you want to benefit.
2. Decide on executors who will administer your estate, and guardians if you have children under 18.
3. Consider whether trusts are needed for children or vulnerable beneficiaries. For expert help see our Trusts page.
4. Use two independent witnesses when you sign, and ensure they are not beneficiaries or married to beneficiaries, to avoid invalidating gifts.
5. Get professional advice for complex estates, or if you want to use online services to make a straightforward Will. You can explore our online Will options or contact us for a tailored service.

For official guidance on making a Will, see GOV.UK: Make a Will.

Practical tips and tax considerations

Think about inheritance tax, which applies in England and Wales at 40% on estates above the available allowances. The standard nil-rate band is £325,000, and there is a residence nil-rate band that may apply when passing a main residence to descendants. Small changes in how you structure gifts, or using trusts, can make a meaningful difference, so discuss these options with a specialist if your estate is likely to face tax.

Also consider appointing a Lasting Power of Attorney, so someone you trust can make decisions about your health, welfare or finances if you lose capacity. Learn more on our Lasting Power of Attorney page.

Ready to take the next step?

Making or updating your Will is a thoughtful gift to the people you care about. If you would like help, our Will writing team can guide you through every step, from simple Wills to complex estate planning. Visit our Will Writing page to find out more, or contact us to arrange a free initial conversation.

Wishing you a peaceful festive season. If you prefer to start now, create an online Will with our support, or get in touch for a full review of your arrangements including trusts and probate planning.

Call to action: For personalised support, contact Beneficial Family Wills today and let us help you make or update your will with confidence.

Call to action: Explore our services for trusts, LPAs and probate support at /trusts, /lasting-power-of-attorney and /probate.