March 2024

Update Your Will Week: Almost half of wills are out of date according to research

Yasmin Hoque Consultant Solicitor - Private Wealth and Tax

The campaign is designed to encourage more people to review and update their will, if they already have one, or to make one if you don’t already have one in place.

Half of wills are out of date

Did you know that almost half (47%) of Brits aged 40+ who have a will haven’t updated it for more than five years? This means nearly half of the wills in the UK are likely to be out-of-date.

Of those, a third (33%) haven’t updated their will for over 7 years, and a fifth (21%) haven’t dusted it off in more than a decade. Almost a third of people (31%) who have a will have had significant changes to their lives and circumstances since they drafted it.

Why is this important? It means that, if you haven’t updated your will, you could run the risk of your wishes not being carried out in the way that you want when you die.

It is important to review your will with a professional at least every five years. Not only could this help to reduce the likelihood of disputes, it will provide assurance to loved ones that your will reflects your most up to date wishes.

Importance of updating Shari’a wills

Once an older or primary inheritor family member has passed away, Shari’a compliant wills must be reviewed and updated.

This is because there will be a need to adjust and review any prescribed shares. A timely update can therefore help clarify where the surviving members stand in relation to inheritance, whilst helping to fulfil faith-based wishes by updating the will to reflect any changes.

For help and support with reviewing your will, or to make one for the first time, our team of will writing experts, including market-leading specialists in Shari’a compliant wills, can help. Get in touch to request a will review today.

Jurit LLP’s private wealth & tax team specialises in will writing (including Shari'a Wills), LPAs and other succession considerations such as personal tax planning. For help and support, get in touch.

Yasmin Hoque Consultant Solicitor - Private Wealth and Tax +44 (0) 20 7846 2370
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Please note this paper is intended to provide general information and knowledge about legal developments and topics which may be of interest to readers. It is not a comprehensive analysis of law nor does it provide specific legal advice. Advice on the specific circumstances of a matter should be sought.