Home | News & events | Press releases | Amend Wills to reflect falling share and property values

Amend Wills to reflect falling share and property values

25 March 2009

The recession means Will beneficiaries could be left with shares and property worth much less than when the Will was written.

Shoosmiths is urging people to consider amending their Wills before share and house values fall further.

Carolyn Bagley, partner and private client specialist at the national law firm, said: “People who have created Wills distributing their assets based on out-of-date share valuations would be well advised to review them, and ensure their wishes are still being fulfilled.
 
“Many people choose to leave specific amounts of money or assets to particular individuals, and the remainder of their estate to their spouse or civil partner.

“Anyone in that situation may need to reduce those specific gifts so that the remainder is not below the amount intended for the spouse/civil partner.”

She said this would not require a complete Will rewrite: “Small changes like this can often be done by creating an addition to the Will, avoiding the need and expense of preparing the whole document again.”

 

For further information please contact:
Name: Alastair Gray
Phone: 08700 864096
Email: Alastair.Gray@shoosmiths.co.uk

Email this page