Why to Update Your Will When You Buy a Property or Move Home
Buying a home is one of the biggest financial milestones of your life. It’s also one of the most important moments to review or create your will.
Buying a property is one of the biggest financial and personal milestones in life. Whether you're purchasing your first home, up-sizing, downsizing, or investing in property, it's also the perfect time to review or create your will.
Life doesn't stand still — and neither should your will.
Your property forms part of your estate
When you buy a home, it automatically becomes part of your estate. Without an up-to-date will, your property may not pass to the people you intend. In some cases, this can lead to lengthy delays, disputes, or even your home being inherited by someone you never intended.
By updating your will, you can:
- Clearly state who inherits your home and any other property you own
- Make provisions for joint ownership (tenants in common vs. joint tenants)
- Appoint trusted executors to manage your estate efficiently
- Ensure that your mortgage or equity arrangements are properly reflected in your estate planning
Moving home often means new circumstances
A new home often brings change — a new relationship, blended family, or financial commitments. These changes can significantly affect what happens to your estate if something happens to you.
Having a will in place ensures that:
- Your wishes are legally protected
- Your loved ones are financially secure
- Your estate is distributed quickly and smoothly, without unnecessary complications
One thing worth checking: joint tenants vs. tenants in common
How you own a property with someone else changes what happens when you die. Joint tenants: the survivor automatically inherits, outside the will. Tenants in common: your share passes under your will.
Solicitors often get asked about this years after completion, when it's much harder to unpick. It's worth a 10-minute conversation at the point you buy.
Peace of mind, delivered to your door
Don't leave such an important matter to chance. If you've recently bought or moved home, now is the time to review your will.
Want to chat it through?
15 minutes on the phone, free, no obligation. I'll answer your questions and you decide what to do next.
— Anita Elliott
Solicitor of England & Wales · Visit Wills · Blackpool
Originally posted on Nextdoor. General information, not legal advice for your specific situation.