Your circumstances can change considerably after you make a will. You may have children, grandchildren, marry, divorce, fall out with someone or simply change your mind about who should inherit.
Fortunately, a will can generally be changed while you have the required capacity and follow the appropriate legal formalities.
Can you simply edit your existing will?
No.
Once a will has been signed and witnessed, you should not simply cross out a beneficiary or write new instructions on the document.
GOV.UK explains that changes to a signed and witnessed will should be made through an official alteration called a codicil, which must be signed and witnessed in the required way.
When should you make a new will?
A codicil can be appropriate for a relatively straightforward change.
However, if you want to make significant changes to several beneficiaries or substantially change your estate plan, making a new will may be more appropriate.
A new will should normally state that previous wills and codicils are revoked.What if you have married or divorced?
Major life changes are an important reason to review your will.
GOV.UK specifically recommends reviewing a will every five years and following significant changes such as marriage, divorce or separation, having a child or the death of an executor.
Marriage can have particularly significant consequences because, in general, marriage cancels an earlier will unless it was made in contemplation of that marriage.
Can someone challenge your decision?
Changing a beneficiary does not automatically make a will invalid.
However, disputes can arise where family members believe a person lacked testamentary capacity, was subjected to undue influence or did not properly understand the document.
This is particularly important where a person makes substantial changes late in life or excludes someone who would otherwise expect to inherit.
What happens after someone dies?
There is also a separate process for changing the distribution of an estate after death.
GOV.UK explains that beneficiaries can sometimes agree to a variation of a deceased person's will, provided the relevant requirements are satisfied. Changes generally need to be completed within two years of death for certain tax purposes. This is different from changing your own will while you are alive.
Conclusion
If you want to change beneficiaries in your will, do not simply amend the original document by hand.
Depending on the extent of the change, you may need a properly executed codicil or a completely new will. Reviewing your will regularly can help ensure that it continues to reflect your wishes.