Reviewing Your Will and Power of Attorney Documents

Why a Will Is Never Really "Done"

Many people breathe a quiet sigh of relief once they have signed their will. It feels like one of those grown-up jobs you tick off and forget about. The trouble is that a will is a snapshot of your wishes on the day you signed it — and life has a habit of moving on. A document written at 62, when you were still working and had two healthy parents, may look very different from the situation you face at 75.

Reviewing your will and your power of attorney paperwork every few years is not an admission that you got it wrong first time. It is simply good housekeeping. A short, calm review now can spare your family months of worry, cost and, in the worst cases, a dispute that nobody wanted.

The Life Events That Should Prompt a Review

You do not need a diary reminder as much as an awareness of the moments that change the landscape. Any of the following should send you back to your paperwork:

• Marriage or a new civil partnership. In England and Wales, getting married or entering a civil partnership automatically revokes an existing will unless it was written in contemplation of that marriage. Many people are caught out by this.
• Divorce or separation. A former spouse may still be named as an executor or beneficiary until you update the will, even though divorce changes some entitlements automatically.
• Bereavement. If the person you named as an executor or the main beneficiary has died, the will may need rewording — or the estate could pass in ways you never intended.
• A new diagnosis. A diagnosis of dementia, Parkinson's, motor neurone disease or a serious heart condition makes reviewing your lasting power of attorney urgent while you still have the mental capacity to make changes.
• New grandchildren, a house move, or a change in the value of your estate. Inheritance tax thresholds and your own circumstances both shift over time.

Lasting Power of Attorney: The Two Documents That Matter

There are two separate lasting powers of attorney (LPAs) in England and Wales, and they cover different things:

• Health and welfare LPA. This lets your chosen attorney make decisions about your medical care, where you live, and day-to-day welfare if you lose capacity. It only comes into effect when you cannot make those decisions yourself.
• Property and financial affairs LPA. This covers bank accounts, paying bills, selling a home, and managing investments. You can choose whether it starts immediately or only if you lose capacity.

A common mistake is to set up the financial LPA and overlook the health and welfare one. The second is often the more personal of the two, and it is the one that decides who speaks for you when it comes to treatment, care homes and everyday dignity. Scotland and Northern Ireland have their own equivalents, so check the correct forms for where you live.

A Practical Checklist for Your Review

Set aside an hour with a cup of tea and go through these questions honestly:

• Are the executors still the right people? Have any died, moved abroad, or become estranged?
• Are the beneficiaries exactly who you want today? Consider whether any gifts should be updated, added or removed.
• Have you made any significant gifts in the last seven years that should be recorded?
• Do you have a letter of wishes alongside the will, and does it still reflect your thinking?
• Are your attorneys still willing and able to act? Have any of them developed health problems of their own?
• Have you named replacement attorneys in case your first choice cannot serve?
• Are the LPAs registered with the Office of the Public Guardian? An unregistered LPA cannot be used when it is needed.
• Does anyone actually know where these documents are kept?

Don't Keep It a Secret

A perfectly drafted will is of little use if nobody can find it. Tell at least one trusted person — an executor, a family member, or your solicitor — where the originals are held. Keep a note of the location with your other important papers, and make sure your attorneys know they have been appointed and what you expect of them.

It also helps to have an honest conversation, however uncomfortable, about your wishes. Families fall out far more often over surprises than over decisions they saw coming. You do not have to share every detail, but letting people know that a will exists and that it has been reviewed recently removes a great deal of anxiety.

Getting the Right Help

Simple updates — adding a grandchild, changing an executor — can sometimes be handled with a straightforward amendment, known as a codicil. More substantial changes usually mean writing a fresh will. Either way, using a qualified solicitor, or a member of a recognised professional body, is money well spent when the sums involved are significant or the family situation is complicated.

Aim for a review every three to five years, and sooner if anything major changes. It is a small piece of admin that protects the people you love — and that is a very worthwhile hour of your time.