
By Gilson Gray
April 1, 2025
As the clock strikes midnight on Hogmanay, a lot of us may resolve to start afresh, tackle long-overdue tasks, and hope to generally embrace better habits. While familiar resolutions usually focus on health, finances, or personal growth, there is one key task that rarely makes the list but is just as important: updating your will.
Preparing or revisiting your will as the New Year begins ensures your wishes are up to date and your loved ones are protected. So, as you prepare to toast to new beginnings, here’s why and how you should prioritise updating or creating your new will in 2025:
As time progresses, relationships can look different. Whether you want to include or remove beneficiaries, add an executor, or adjust how your estate is distributed, the start of the year is an excellent moment to reflect on these updates before discussing these with your legal adviser.
Have you recently welcomed a new addition to your family? Did you lose a loved one this year, or experience a significant life event like marriage or divorce? It’s important to discuss any significant changes with a solicitor and ensure your will is still fit for purpose.
You may have started thinking about things like care costs or your inheritance tax position. The most recent budget has introduced some changes to the way inheritance tax is charged so you might want to check how that affects you. Perhaps you wish to leave your estate to a vulnerable beneficiary and you want to ensure the correct mechanisms are in place for their inheritance to be protected. A solicitor can discuss the options available to you.
If you do not have a will, your estate shall be distributed in accordance with the laws of intestacy in Scotland. That means you will not have a say on how your assets are left after your death. It also means that the process can be more costly for your estate – and for your family – as extra court applications and expenses are likely to be required. A will ensures peace of mind for you and your family.
Preparing or updating an existing will doesn’t have to be a daunting process. Here’s a quick guide to get you started:
So, as you ring in the bells this year, consider raising a glass to the security of your future. There’s no better time to set your affairs in order and step into 2025 with confidence.
Find out more about our Private Client services here.
Gemma Cunningham Senior Solicitor, Private Client | ||||
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