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Wills 'need to be regularly reviewed'
28/05/2008
Wills and trusts need to be regularly reviewed as the inheritance people are able to leave changes, according to the Law Society.
The society claims that solicitors need to be consulted on the contents of wills regularly, particularly around a period of transition, for example when someone has to sell their house in order to move into a care home.
Andrew Holroyd, Law Society president, said: "It is worth asking your solicitor to look again at your will and amend it to include a 'plan B' in case your home has been sold and cannot be passed on, at least that way, if you are forced to sell up, the intended recipients of your estate receive something else"
Research carried out by the Law Society found that 57 per cent of adults do not know if they have a will or not.
Meanwhile, people selling their homes in Northern Ireland could receive less money for their properties as house prices in the province could fall to 2006 levels, according to the University of Ulster.
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The society claims that solicitors need to be consulted on the contents of wills regularly, particularly around a period of transition, for example when someone has to sell their house in order to move into a care home.
Andrew Holroyd, Law Society president, said: "It is worth asking your solicitor to look again at your will and amend it to include a 'plan B' in case your home has been sold and cannot be passed on, at least that way, if you are forced to sell up, the intended recipients of your estate receive something else"
Research carried out by the Law Society found that 57 per cent of adults do not know if they have a will or not.
Meanwhile, people selling their homes in Northern Ireland could receive less money for their properties as house prices in the province could fall to 2006 levels, according to the University of Ulster.
Contact us for legal advice
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