Tax tip: Importance of making and reviewing wills

Ask clients whether they have made a will. If so obtain a copy and review it to make sure that it is up to date and continues to reflect the client’s current wishes.

The will may have been made some time ago and things may have changed in that period.

For example marriage may have revoked an existing will or children/grandchildren may have been born in the meantime for whom provision may need to be made.

Note that separation and divorce does not revoke an existing will so provisions which are currently in place for a former spouse or partner may also need to be revised.

If there is no will recommend that the client makes one. Otherwise the estate will pass under the laws of intestacy which do not necessarily reflect the closeness of the client’s relationships and may not therefore follow the...