Why you need to keep your will up to date

A recent high-profile court row over inheriting property is a reminds us of why keeping your will up-to-date is so important, says Matthew Partridge.

Inheritances are a frequent source of dispute. This month, the case of dentist Norman Martin hit the headlines. Martin separated from his wife Maureen in 1994, but never divorced. He and his new partner, Joy Williams, lived together for 18 years, and bought a house together in 2009. But when Martin died in 2012, the trouble started. The pair owned the property as "tenants in common", rather than as "joint tenants", meaning that Martin's half of the house did not automatically go to Williams.

Instead, as he had not updated his will, it went to his wife. Williams who couldn't afford to buy her out took the case to court. The judge has found in her favour and awarded her Martin's half. Maureen now has to pay £100,000 in legal costs. Unsurprisingly, she plans to appeal too.

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Dr Matthew Partridge
Shares editor, MoneyWeek

Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.

He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.

Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.

As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.

Follow Matthew on Twitter: @DrMatthewPartri