Silver separators in warning to keep Wills up to date
As growing numbers of over-50s divorce and remarry, many are finding their existing wills outdated and a source for problems, warns one of the region’s leading law firms.
“If you divorce, the effect in relation to the Will is to treat your ex as though they have died before you and won’t receive anything, even though they were named in the Will, said Frankie Harwood, a Wills Experts at QualitySolicitors Mander Cruickshank.
“If you remarry it cancels your existing Will so you really need to revisit it,” she added.
QualitySolicitors, who conducted the study claim this can lead to arguments and legal disputes between partners and children when a will is read.
The research follows a recent report showing that divorce rates among the so-called “silver separators” have leapt by 85 per cent since the year 2000.
“Divorce and remarriage are not the only reasons you may need to rewrite your will in later life,” said Ms Harwood, of the Coalville based law firm. “Buying or selling a property, receiving a significant inheritance or having new grandchildren may also need to be reflected in your will.
According to the research one in four over-50s has not updated their will for more than five years and one in 10 has left it untouched for a decade or more.
“Worryingly, seven out of 10 do not have a valid will at all,” said Ms Harwood.
“Wills are there to bring clarity at a very difficult time of sadness and loss,” she said. “It is greatly concerning that so many over-50s are currently without a valid, up-to-date will.”
She added that making a Will is easier than many people think and that it is imperative to use a recognised Will specialist especially if your personal situation is not straight-forward.
“With a good solicitor, the service is actually much cheaper, less hassle and less shrouded in jargon than people think.”
Anybody wishing to know more about Wills or any aspect of law can contact QualitySolicitors Mander Cruickshank on 01530 510666.