It’s officially Update Your Will Week 2023.
This week (23rd–29th January) is Update Your Will Week, an awareness campaign hosted by SFE to encourage more people to update their will and ensure their wishes are fulfilled when they die. This helps minimise disputes–easing your loved ones’ distress (and costs).
New research commissioned by SFE revealed that only 56% of UK adults had updated their will within the last five years, meaning around half of wills are outdated. It also showed that since last updating their will, half of UK adults had experienced a life-changing event, such as getting married, divorced, or having a child. We recommend that your will be reviewed and updated every five years or when a major change impacts you or your loved ones.
In addition, the research revealed that almost three-quarters (70%) of parents in the UK have no legal guardian to care for their children in the event of their deaths. According to the research, parents are almost completely unaware of the risks of not identifying a legal guardian in a will; this includes the courts or social services deciding what happens to their children. Only two out of ten parents understand that social services or the courts can decide what happens to their children if they don’t have a will.
We are keen to raise awareness of the risks involved when a guardian isn’t appointed.
Speak to us about making changes to an existing will or creating a new one. Butterworths Solicitors is a member of SFE, a national organisation of lawyers specialising in advising people planning for later life. We can provide support and guidance as you discuss your unique situation and wishes. We can also help reduce your inheritance tax bill.
SFE lawyers are experts in this area of law and follow a strict code of conduct which has respect and dignity at its heart. Communicating in clear, straightforward language. We are trained to ensure you understand your important decisions. Get in touch with us today and ensure your wishes are communicated when you die.