It is important to have a valid, up-to-date Will in place. This means reviewing your Will regularly and in the event of any changes in circumstances. We look at how much it costs to amend a Will, why you might want to do so and the options open to you in making changes.
At Witan Solicitors, our prices start at £345 plus VAT. Read on to learn more.
Summary
Before You Make Changes to Your Will
When Do You Need to Change Your Will?
Changing a Person or a Bequest in the Will
How to Change a Person or a Bequest in the Will
How Much Does it Cost to Change a Will?
Before You Make Changes to Your Will
Making changes to a Will is your chance to consider all of the provisions and decide whether there are several changes to be made. The main decisions you need to make when making a Will are:
- Who will be your executor
- Who will be your children’s guardian, if they are under 18
- Who will be a trustee, for example, if you are leaving money in trust for minor children
- Who you will choose as a backup for the above positions
- Whether you want to leave a life interest in your home to your spouse or partner – this will allow them to live there as long as they want, but prevent them from leaving your share to someone else in their own Will
- Who do you want to leave your assets to
We can go through the various points with you, including checking that your estate is structured in the most efficient way for Inheritance Tax purposes.
It is important to note that you cannot simply write on your Will to make a change as this will invalidate it.
When Do You Need to Change Your Will?
Everyone is advised to review their Will at least once every five years as well as in the light of any changes in circumstances, including the following:
- The birth of a child
- Marriage (any existing Will usually becomes automatically invalid on marriage unless specifically made in contemplation of the marriage)
- Divorce
- The purchase of a property
- A substantial change in your financial situation, such as inheriting money or starting a business
- The death or incapacity of someone you named in your Will, including an executor, trustee, guardian or beneficiary
- Changing your mind as to who you want to leave your money to
- Wanting to add or remove beneficiaries
- A change in the circumstances of a beneficiary – for example, if a beneficiary receives means-tested benefits, it is usually preferable to leave money to them by way of a discretionary trust rather than a lump sum so that they will not lose their benefits
For more information, see our page on reviewing your Will.
Changing Clerical Errors
If you have found a minor typing error in your Will, it can only be amended if two witnesses also sign to say they have witnessed the alteration. It is risky to start crossing out and amending a Will and it is recommended that you either make a codicil or have a new Will drafted. Writing on an existing Will usually invalidates it.
A codicil is a supplemental document that can be kept with your Will and which can amend your Will. It is suitable for small changes, but for most alterations, it is preferable to make a new Will. There is always a risk that a codicil could be lost and your executor might not be aware of its existence when the time comes.
Having a new Will or codicil drawn up is not expensive. If a new Will is not made and a legal dispute arises in the future because of an error, this could be very costly for your estate.
Change the Address of Somebody Named in the Will
It is not essential to change your Will if someone’s address changes. You can simply put a note of their new address with the Will so that it is available when needed.
Changing Names
If someone changes their name, so long as they are still clearly identifiable, this does not necessarily mean you will need a new Will. They will need to be able to prove their identity in due course.
However, no confusion or dispute must arise over exactly who you are intending to name. If you have left a gift to “My daughter XXX”, and your daughter subsequently changes her name on marriage, it will still be clear that your gift is intended for her. If there is likely to be any ambiguity, you should ask a solicitor to draft a codicil, ensuring that it is obvious who you are naming.
Changing Spelling Errors
Minor spelling errors in the Will are not usually a problem. Issues can arise when a name is mis-spelt or the mis-spelling affects the clarity of what is being said. If this is the case, you will need to consider a codicil or new Will to avoid difficulties arising in the future.
Changing a Person or a Bequest in the Will
It is often the case that over time, circumstances change and people want to replace those named in their Will. This could be someone appointed to carry out a task, such as a personal representative, executor, guardian or trustee, or it could be a beneficiary.
For a simple change of executor, you can execute a codicil. If you want to change a beneficiary, however, you might want to consider making a new Will. A Will becomes a document of public record once a Grant of Probate is issued, meaning that any beneficiary who has been removed could become aware of this fact.
By making a new Will, you avoid any unpleasantness that this could cause.
Creating a New Beneficiary in the Will
If you intend on cutting a close relative, such as a child, spouse or cohabiting partner out of your Will, they may be able to make a claim against your estate in due course if you were supporting them financially. We can discuss whether this is a risk in your particular circumstances and go through your options with you.
Changing an Appointee in the Will
An appointee in a Will is someone who will take on a job relating to your estate. Everyone needs to appoint one or more executors when making their Will. An executor is someone who will be responsible for winding up your estate in due course.
Other appointees that you might make include guardians for children under 18 or children who will not be able to manage their affairs because of mental incapacity, and trustees to look after assets that you have put into trust.
Over time, you may need to change those appointed in your Will. For example, they might move overseas or be unable to take on the role. You can either make a codicil appointing someone else in their place or you can make a new Will.
If you choose to make a new Will, this will allow you to consider whether there are any other changes you would like to make.
How to Change a Person or a Bequest in the Will
If you want to change a beneficiary, it is often advisable to have a new Will drafted so that no one can see the new decision that you made.
If you want to change a bequest by adding a new asset, you can either make a codicil or have a new Will drafted. If it is a small change, a codicil is a good option. If you are making a major change, then again, a new Will is advisable.
Making a Codicil
A codicil is a formal legal document and must be very carefully drafted and properly executed to take effect. Making mistakes with a codicil or having an ambiguous codicil can result in difficult legal arguments, which could cause a family rift and drain an estate of funds.
If you need a codicil, you are strongly advised to have it professionally drafted. Your solicitor will ensure that it is also correctly signed, dated and witnessed. It can then be placed with your Will. You can make more than one codicil if you want, but you should bear in mind that a codicil could be misplaced and there is a risk that it will not be found when the time comes.
Prepare a New Will
If you want to make changes, then having a new Will prepared will allow you to review all of the provisions you have made. You may decide that you need a different executor if your original choice is now less able to manage the complexity of administering an estate, or there might be new children in your family whom you would like to include as beneficiaries.
Our expert Wills solicitors can go through all of your options and discuss the changes you would like to make before drafting a new Will for you.
How Much Does it Cost to Change a Will?
The cost of a new Will is relatively modest, particularly when compared to the risk of a legal dispute if your existing Will does not adequately deal with matters.
At Witan Solicitors, we charge £345 plus VAT for a standard simple single Will and £595 plus VAT for a pair of mirror Wills.
If you would like to discuss your needs, please feel free to call us for a chat.
If You Have Handwritten Your Will
While a handwritten Will is legal, provided it has been correctly drafted and executed, you are strongly advised to have a printed Will put in place. There is a higher incidence of legal challenges to handwritten Wills and there can be issues with both the drafting and legibility.
If You Have Written Your Will with a Solicitor
If you have written your Will with an expert Wills solicitor, you have the reassurance of knowing that your wishes have been properly recorded and that you have a robust document in place that will provide for your loved ones in the future.
It is a relatively straightforward matter to revise and redraft a Will, if and when this is needed.
If You Have Written Your Will with an Online Will-Writing Service
If you have a Will written with an online Will writing service, you may want to check that it accurately reflects your wishes and that it will be easy to find when the time comes.
If you ask us to prepare your Will for you, we can advise you of your options for storage and make sure that your executors will know what to do in due course.
What Do I Do With My Existing Will?
Once you have made a new Will, you can choose to destroy your existing Will. If you do not destroy it, and something happens to your new Will, then your previous Will could take effect in some circumstances.
You can tear it, shred it or otherwise destroy it. Be aware that if you destroy a Will and you do not have a new valid Will in place, an earlier Will could be used.
Contact Our Wills Solicitors
Our Wills lawyers can make sure that you have a comprehensive Will in place that safeguards your assets and ensures that they are passed on to your beneficiaries in the way that you want. We will discuss issues such as leaving money to minor children, Inheritance Tax and avoiding a situation where your assets pass out of the family.
We have many years of experience in helping clients with Wills and we can identify any potential complications that need to be addressed. If you would like to amend a Will, email us at info@witansolicitors.co.uk or fill in our contact form and we will be happy to assist.
