The importance of an up-to-date will

October 1, 2024
, by  
Steve Crouch

As more of my accountancy clients use Auderli to organise their information, it's prompted questions about their wills —some don’t have one (similar to 60% of UK adults), while others realise theirs needs updating. With Free Wills Month underway, it’s a great time to emphasise the importance of an up-to-date will and explore available resources.

Why you should have a will

A will isn’t just about distributing assets—it’s about ensuring your wishes are respected and protecting your loved ones. Here’s why having a will is essential:

  • Control over your estate: Decide who inherits your assets.
  • Appoint guardians: Name guardians for your minor children.
  • Reduce family disputes: Clearly state your intentions to prevent conflicts.
  • Minimise inheritance tax: Plan to reduce tax liabilities on your estate.
  • Leave a legacy: Support causes you care about through charitable gifts.

When you should write/update your will

Key life events should prompt you to write or update your will:

  • Becoming a parent: Name guardians for your children.
  • Marriage or divorce: Update your will to reflect new relationships.
  • Acquiring significant assets: Include new property or business interests.
  • Blended families: Ensure fair distribution among all family members.
  • Serious illness: Protect your wishes and reduce stress on loved ones.

Many of these events are reminders of how quickly life changes, reinforcing the need for a will that reflects your current circumstances.

Writing a will – where to start

When it comes to writing a will, there are many options available, an opportunity for those aged 55 and over is Free Wills Month, held every March and October. This initiative allows you to write or update your will for free with participating solicitors, ensuring that your estate is managed according to your wishes. While there’s no obligation to leave a gift, the campaign highlights the importance of legacy donations, which significantly contribute to funding vital charitable work.

Another option is through partnerships between will-writing services and charities. White Deer Legal, who collaborate with their clients through Auderli, has a year-round partnership with Cancer Research UK, offering a straightforward and accessible way to write or update a will whilst supporting groundbreaking cancer research. White Deer Legal provides a professional will-writing service for individuals considering leaving a legacy gift to Cancer Research UK, allowing you to secure your estate plans with the charity offering a contribution to the cost of your will in return.

If your will requires further discussion or is more complex, I can assist directly — feel free to get in touch.

Take action today

Whether you’re prompted by a significant life event or simply feel now is the right time, ensuring your will is up-to-date is a crucial step in protecting your loved ones and leaving a lasting legacy. Don’t wait—secure your future and peace of mind today.

Image by
Freepik