Downsizing and Your Will: What to Change When You Move

Margaret downsized from her four-bedroom family home in Surrey to a two-bedroom flat in Brighton, unlocking £425,000 in equity. She carefully planned the financial aspects—helping her daughter with a house deposit, investing the remainder for retirement income. But she didn't update her will.

When Margaret died three years later, her executor discovered her will still specifically bequeathed "my property at 42 Oak Lane, Surrey" to her son and left "the remainder of my estate" to her daughter. The property no longer existed. The Brighton flat passed under the residuary clause to her daughter alone. The gift to her daughter years earlier counted against her inheritance. Margaret's careful plans for equal treatment unraveled because her will didn't reflect her new circumstances.

According to Rightmove research, downsizing could unlock up to £498,687 in equity for empty nesters outside London. Nearly four million UK homeowners have already downsized, yet most fail to update their wills to reflect these significant changes.

This guide explains exactly what to change in your will when you downsize—and the costly mistakes to avoid.

Why Downsizing Affects Your Will (More Than You Think)

Downsizing isn't just a property transaction. It's a fundamental restructuring of your estate that has profound implications for inheritance.

The average UK downsizer releasing £112,000 to £498,000 in equity changes their estate's composition dramatically. Your will was written when your home represented perhaps 60-70% of your estate value. After downsizing, property might represent only 30-40%, with the remainder in cash, investments, or gifts already made to children.

This shift affects three critical areas of your will:

Property-specific provisions: Any clause mentioning your old address or "my house at..." will fail completely. This is called ademption—when a specifically bequeathed item no longer exists at death, that gift fails. The intended beneficiary receives nothing from that clause.

Asset distribution balance: If your will left "my house to Child A and my savings to Child B," downsizing destroys this careful balance. Child A now receives a smaller property worth £250,000 instead of £500,000, while Child B receives the original savings plus £250,000 released equity—completely inverting your intended distribution.

Tax planning provisions: Your £175,000 residence nil rate band (RNRB) inheritance tax benefit could be lost without proper documentation of your downsizing. This tax benefit only applies when your home passes to direct descendants, and special claims are required when you've downsized.

David and Susan discovered this when reviewing their estate plan. Their 2015 will left their £600,000 home to their two children equally. After downsizing to a £350,000 bungalow in 2024, they had £250,000 in the bank. Without updating their will, the bungalow would pass to their children, but the RNRB claim would require additional documentation their executors didn't know about. They updated their will immediately, adding executor authority to claim the downsizing addition and recording how the equity was allocated.

Nearly half of over-55s plan to downsize, but most don't realize their existing will may no longer work as intended. The ideal timeline is to update your will between exchange and completion—when you know exact figures but before the transaction completes.

What Happens to Property-Specific Gifts in Your Will

When you write "I leave my property at 15 Elm Street to my daughter Sarah," you create a specific gift. In legal terms, this gift must exist at your death for Sarah to inherit it. If you've sold 15 Elm Street and bought a flat in Brighton, the gift fails completely.

This legal principle is called ademption. Sarah doesn't automatically inherit your new Brighton flat. Instead, it passes according to your residuary estate clause—the section that says "everything else goes to..."

Here's how this played out for James and Patricia. Their will from 2010 stated: "We leave our family home at 22 Birch Avenue, Manchester, to our daughter Emma, and our savings and investments to our son Michael." They downsized in 2023, selling the Manchester property for £480,000 and buying a flat for £280,000. The £200,000 difference went into savings.

When James died in 2024, their executor read the will. The gift of "22 Birch Avenue" failed—that property no longer existed. The new flat passed under the residuary clause to Michael along with all savings (original savings plus the £200,000 equity). Emma received nothing. Michael received everything. The opposite of what James and Patricia intended.

The solution is to replace address-specific language with flexible provisions that survive property changes:

Instead of: "My property at 42 Oak Lane, Surrey, to my son David"

Use: "My primary residence at the time of my death to my son David"

Or better yet for equal treatment:

Use: "50% of my estate to my son David and 50% to my daughter Claire"

This comparison shows how different will provisions survive downsizing:

Will Provision	Before Downsizing	After Downsizing	Result
"My property at 15 Elm Street to my daughter"	Works as intended	Gift fails (ademption)	Daughter gets nothing from this clause
"My primary residence to my daughter"	15 Elm Street	New flat	Daughter gets new property
"50% of my estate to my daughter"	Includes Elm Street value	Includes new flat + equity	Daughter protected

Susan learned this lesson before it was too late. When reviewing her will before downsizing, she noticed it said "my house and its contents to my daughter Rachel." Her solicitor explained that after downsizing from her £520,000 detached home to a £310,000 apartment, Rachel would receive the apartment—worth £210,000 less—while the £210,000 equity sitting in Susan's bank account would pass to Susan's residuary beneficiaries (a charity). Susan updated her will immediately to leave "50% of my estate to Rachel and 50% to the RSPCA," ensuring both beneficiaries benefited proportionally from the downsizing equity.

If your will contains any reference to a specific property address, updating it isn't optional—it's essential to ensure your estate passes as you intend.

The £175,000 Residence Nil Rate Band Problem

When you downsize, you risk losing a significant inheritance tax benefit. The residence nil rate band (RNRB) provides an additional £175,000 tax-free allowance on top of the standard £325,000 nil rate band—but only when you leave your home to direct descendants (children, grandchildren, step-children).

For couples, this means up to £1 million can pass tax-free (£325,000 + £175,000 each). Losing the RNRB could cost your estate £70,000 in unnecessary tax (40% of £175,000).

How downsizing threatens your RNRB:

The RNRB applies based on the value of the home you own at death. If you owned a £600,000 house but downsized to a £300,000 flat, your RNRB still applies—but only to the £300,000 flat value, not the original £600,000.

Except there's a crucial protection called the "downsizing addition."

The downsizing addition explained:

Introduced in the Finance Act 2016, the downsizing addition allows estates to claim the full £175,000 RNRB even after downsizing—if you meet specific conditions and keep proper records.

This only applies to properties disposed of on or after 8 July 2015. If you downsized before this date, the downsizing addition doesn't apply.

How it works in practice:

Robert and Helen sold their £650,000 home in 2022 and bought a £380,000 bungalow, releasing £270,000 in equity (after costs). Robert died in 2024. His estate was worth £800,000 (bungalow + investments + released equity).

Without the downsizing addition, the estate would only claim RNRB based on the £380,000 bungalow. With the downsizing addition claim properly made, the estate can claim against the higher original value, as long as equivalent value passes to their children.

The executors needed to prove:

Robert owned and disposed of the original £650,000 property on or after 8 July 2015 (yes—sold in 2022)
The original property would have qualified for RNRB if kept until death (yes—it was his main residence)
Direct descendants inherit at least the value of the lost RNRB (yes—children inherit everything)
The claim is made within 2 years of death (yes—claimed in 2024)

The estate successfully claimed the full £175,000 RNRB, saving £70,000 in inheritance tax.

Critical requirements for your will:

Your will must include three elements to protect the downsizing addition:

Confirm your primary residence passes to direct descendants: "My estate, including my primary residence at the time of death, shall pass to my children in equal shares."
Give executors explicit authority to make downsizing addition claims: "I authorize my executors to make any claims for residence nil rate band downsizing additions under the Finance Act 2016 and subsequent legislation."
Include instruction to preserve downsizing records: "My executors should note that I downsized from [old address] sold on [date] for approximately [£amount] and request they maintain documentation to support any RNRB downsizing addition claims."

The RNRB is reduced by £1 for every £2 your estate exceeds £2 million. If your estate is worth £2.35 million or more, you won't qualify for RNRB at all. For estates near this threshold, detailed professional advice is essential.

Personal representatives must claim the downsizing addition within 2 years of death using HMRC form IHT435. Without proper will provisions and documentation, executors may not realize this claim is possible.

When Equity Release Changes Everything

The £200,000 to £500,000 you release when downsizing doesn't disappear—it flows into other assets or gifts that fundamentally change your estate's distribution. This is where most downsizers accidentally create profound inequality among their children.

Where the equity goes (and what it means for your will):

Gifts to children for house deposits: You help one child with a £50,000 deposit. Another child already owns their home and doesn't need help. Without updating your will, you've just given one child £50,000 more than the other.

Under the 7-year rule for inheritance tax, gifts made within 7 years of death are potentially taxable. More importantly for family fairness, these gifts create inequality unless your will accounts for them.

Sarah downsized from a £580,000 house to a £340,000 flat, releasing £240,000. She gave £60,000 to her son Tom for a deposit and £60,000 to her daughter Lucy for home improvements. Her third child, Emma, already owned her home outright and didn't need financial help.

Sarah's old will left "everything equally among my three children." When Sarah died five years later, her estate was worth £420,000 (flat plus remaining savings). Divided three ways, each child would receive £140,000.

But Tom and Lucy had already received £60,000 each. Emma received nothing during Sarah's lifetime. Total inheritance: Tom £200,000, Lucy £200,000, Emma £140,000.

Was this fair? Sarah actually wanted equal treatment, but her will didn't account for the lifetime gifts.

The solution: Recording lifetime gifts with equalization clauses:

Modern wills include a section recording lifetime gifts and explaining how they should be treated:

"I have made the following gifts during my lifetime which should be taken into account when distributing my estate:

£60,000 to my son Tom on [date] for house purchase
£60,000 to my daughter Lucy on [date] for home improvements

These gifts should be brought into hotchpot and accounted for when calculating each child's share, with my daughter Emma receiving an equivalent sum before the residuary estate is divided equally."

This creates true equality: Emma receives £60,000 first (to match what her siblings already received), then the remaining estate is divided three ways.

Equity invested for retirement income:

If you invest £300,000 released equity into ISAs, bonds, or other investments, these become part of your residuary estate. Check that your residuary clause—the "everything else goes to..." section—still achieves your intentions.

David's will left "my house to my son and my savings to my daughter." After downsizing and investing £280,000 of released equity, his "savings" now included substantial investments. His daughter would receive far more than his son. David updated his will to percentage-based shares: "50% of my estate to my son and 50% to my daughter," ensuring fairness regardless of asset composition.

Equity used for care or living expenses:

If you're using released equity to fund care, home modifications, or enhanced retirement lifestyle, your estate shrinks over time. Specific cash bequests ("£20,000 to my niece") may become impossible to fulfill if your estate is spent on care.

Consider replacing fixed cash gifts with percentage-based provisions: "5% of my estate to my niece" ensures the gift is proportional to whatever remains.

The gift record your will should include:

For each gift made from released equity:

Recipient's full name and relationship
Amount gifted
Date of gift
Purpose (house deposit, debt repayment, etc.)
Whether it should count against their inheritance or be additional

This protects both you (ensuring your intentions are clear) and your executors (giving them the information they need to distribute your estate fairly).

Updating Beneficiary Shares and Percentages

Downsizing doesn't just change which property you own—it changes the fundamental composition of your estate from property-heavy to cash-heavy. This shift can completely undermine percentage-based and fractional gifts unless you update them.

How estate composition changes affect distributions:

Original estate: £600,000 house + £100,000 savings = £700,000 total (86% property, 14% cash)

After downsizing: £300,000 flat + £400,000 savings = £700,000 total (43% property, 57% cash)

Your total estate value hasn't changed, but the balance between property and cash has inverted.

Why this matters for your will:

Emma's will gave "my house to my daughter Charlotte and my savings to my son Oliver." When she wrote this in 2012, the house was worth £450,000 and savings totaled £80,000—an 85%/15% split. Emma felt this was roughly fair because Charlotte had always loved the family home and Oliver had moved abroad.

In 2023, Emma downsized from the £450,000 house to a £240,000 flat, releasing £210,000 (after costs) which went into savings. Her estate composition: £240,000 flat + £290,000 savings = £530,000 total (45% property, 55% cash).

When Emma died in 2024, Charlotte received the £240,000 flat (45% of estate). Oliver received £290,000 in savings (55% of estate). The intended 85%/15% split became a 45%/55% split—completely inverted.

The three approaches to fix this:

Option 1: Switch to equal percentages

"50% of my estate to Charlotte and 50% to Oliver" ensures equal treatment regardless of asset composition. After Emma's downsize, each child would receive £265,000 (half of £530,000).

Option 2: Use equalization clauses

"My primary residence to Charlotte. Cash equivalent to the residence value to Oliver. Any remainder divided equally." This maintains the principle that both children receive equal total value—one in property, one in cash.

Option 3: Recalculate specific amounts based on new estate

"£265,000 to Charlotte and £265,000 to Oliver" (based on current estate value of £530,000). This works but requires updating every time your estate value changes significantly.

Most estate planners recommend Option 1 (equal percentages) for simplicity and flexibility.

When equal percentages create unexpected inequality:

James and Helen had three children. Their will left "our estate divided equally, one-third each." They downsized and gave their son £80,000 for a house deposit from the released equity. The other two children didn't need financial help.

Under the will's "equal" distribution, when James and Helen die, the son who already received £80,000 gets another third of the remaining estate. The children who received nothing during their parents' lifetime get the same third.

True equality requires accounting for lifetime gifts: "One-third to each child, provided that any gifts made during our lifetimes in excess of £10,000 shall be brought into account as part of that child's share."

Property-and-cash provisions that need updating:

"My house to Child A, cash to Child B" → Switch to percentages or equalization clauses
"My property contents to my daughter" → Update for new (smaller) property and its specific contents
"£50,000 to my son" → Consider if your estate can still afford specific cash gifts after downsizing
"My rental property to my niece" → If you kept your old property as a rental investment, ensure this is clearly stated

Richard's will left "£30,000 to each of my four grandchildren" (£120,000 total). After downsizing and helping two children financially, his estate was worth £280,000. The specific cash bequests would consume 43% of his estate (£120,000 ÷ £280,000). His children would receive only £160,000 to split. Richard updated his will to percentage-based gifts: "2.5% of my estate to each grandchild" (10% total), leaving 90% for his children. At £280,000, each grandchild receives £7,000—more proportionate to the actual estate.

The key principle: After downsizing, review every gift in your will and ask, "Does this still make sense given my new estate composition?"

Executor Instructions and Property Details

Your will contains numerous administrative details tied to your old property. After downsizing, these provisions need updating to avoid confusion, delays, and potential legal challenges.

Your own address in the will preamble:

Every will begins: "This is the last will and testament of [Your Name] of [Your Address]." This address should match your current residence.

While an outdated address doesn't invalidate your will, it can create delays when probate registries need to verify your identity and residence. Update this to your new address.

Property-specific executor powers:

Traditional wills include clauses like: "I authorize my executors to sell my property at 42 Oak Lane to pay my debts and funeral expenses."

After downsizing from a £500,000 house to a £280,000 flat with £220,000 in the bank, this clause may be unnecessary. Your estate is now much more liquid. Your executors can pay debts from cash without selling property.

Consider whether property sale authority is still needed, or update it: "I authorize my executors to sell any property I own at death if necessary to pay debts, expenses, or to facilitate distribution to beneficiaries."

Mortgage payment instructions:

Older wills often state: "My executors shall pay off any outstanding mortgage on my property from my estate before distributing to beneficiaries."

If your new property is mortgage-free (as most downsized properties are), remove this clause—it's no longer relevant and could cause executor confusion.

However, if you took out a new, smaller mortgage on your retirement property, update the clause to reflect current mortgage arrangements.

Contents and furniture provisions:

"I leave the furniture and contents of my home at 15 Birch Avenue to my daughter" needs updating in two ways:

First, remove the specific address: "I leave the furniture and contents of my primary residence to my daughter."

Second, consider whether this gift still makes sense. You've moved from a four-bedroom house to a two-bedroom flat. Much of your furniture may have been sold, given away, or placed in storage. The "contents" are now completely different.

Margaret discovered this issue when reviewing her mother's will after her mother downsized. The will left "all contents of the family home to Margaret." After downsizing from a large house to a small flat, most of the valuable antiques had been sold at auction, and the furniture given to various family members. The "contents" of the new flat were minimal—mostly new, inexpensive items bought for the smaller space. The intended valuable gift had evaporated.

Life interest and right-of-residence clauses:

Some wills give a surviving spouse "the right to live in my property for life" before it passes to children. These provisions need careful reconsideration after downsizing.

John's will gave his wife Alice "the right to live in my property for life, after which it passes to my children from my first marriage." This made sense when the property was worth £600,000. After downsizing to a £280,000 flat, with £320,000 in savings, the life interest only applies to the flat. The £320,000 in savings passes immediately to John's children. Alice gets security of accommodation but loses access to most of the estate's value.

John updated his will to: "My wife Alice shall have the right to live in my property for life and receive income from 50% of my estate. Upon her death, the property and estate shall pass to my children." This better protects Alice while still benefiting his children ultimately.

Rental property provisions:

If you kept your original property as a rental investment rather than selling it, your will must specifically address this.

Susan downsized to a smaller home but kept her family property as a rental, generating £1,800/month income. Her will needed to specify:

Whether the rental property passes to the same beneficiaries as her new residence
Who receives the rental income between her death and estate distribution
Who is responsible for managing the rental property during estate administration
Whether the property should be sold or kept as a rental for beneficiaries

Practical checklist for executor sections:

Your current address in will preamble
Property address in any specific gifts
Executor authority to sell property (still needed with a more liquid estate?)
Mortgage payment instructions (still relevant if new property is mortgage-free?)
Property contents and furniture provisions (what contents exist at new property?)
Life interest or right-of-residence clauses (do values still make sense?)
Rental property or second property provisions (if old property kept as investment)
Keys, access codes, and safe combinations (update for new property)

These administrative details may seem minor, but they're critical for smooth estate administration. Executors working with an outdated will waste time, incur legal costs seeking clarification, and may even make distributions inconsistent with your actual intentions.

Care Home Fees and Asset Protection (Proceed with Caution)

For many downsizers, there's an unspoken motivation: fear that care home fees will consume everything they've saved. With average care home costs of £40,000-60,000 per year and the means-test threshold at £23,250, many downsizers consider whether estate planning can protect their assets.

You need honest information about what works, what doesn't, and what's actually illegal.

What DOESN'T work: lifetime trusts to "hide" assets

Many companies market "asset protection trusts" promising to protect your home from care fees by transferring ownership to trustees. They claim your assets are "protected" because you no longer legally own them.

This rarely works.

Local authorities can assess deliberate deprivation of assets when they believe you disposed of assets to avoid paying care fees. Unlike inheritance tax (which has a 7-year rule), there's no time limit for care fee assessments. Local authorities can look back indefinitely.

If you transfer your £300,000 home into trust at age 78, then need care at age 82, the local authority will investigate. They'll ask: "What was your purpose in transferring this asset?" If the answer is "to avoid care fees," they'll assess your care fees as if you still own it. This is called notional capital.

The timing trap:

Transferring assets at age 65 when healthy as part of general retirement planning may be legitimate.

Transferring the same assets at age 80 after a dementia diagnosis specifically to avoid care fees is likely deliberate deprivation.

The difference is intent and timing.

What your will CAN do: protective property trusts

A protective property trust in your will (not during your lifetime) can protect your share of assets after your death from your surviving spouse's potential care fees.

Here's how it works: Instead of leaving everything to your spouse, you leave your share of the house in trust. Your spouse has the right to live there for life, but doesn't own your share outright. When your spouse dies, your share passes to your children.

If your spouse later needs care, the local authority can only assess your spouse's share of the property (50%), not your share which is in trust.

Peter and Linda owned their £400,000 home jointly. Peter's will included a protective property trust. When Peter died, his 50% share (£200,000) went into trust for their children, with Linda having the right to live there for life. Linda's 50% share (£200,000) became hers outright.

Years later, Linda needed residential care. The local authority could only assess Linda's £200,000 share for care fees. Peter's £200,000 share, held in trust for the children, was protected.

Critical limitations:

This only protects your assets after your death, not your own assets if you need care
It only protects from your surviving spouse's care fees, not from your own
It requires careful trust drafting (beyond simple online will services)
It may create inheritance tax charges in some circumstances
Your spouse has reduced financial flexibility (they can't sell the house without trustee agreement)

What IS appropriate planning when downsizing:

Legitimate gifting as part of retirement planning: Giving £50,000 to each child from your released equity when you're healthy at age 65 is normal financial planning. Document these gifts in your will and keep records.

Standard will provisions: Including protective property trusts in your will (not lifetime trusts) to protect your share from a surviving spouse's remarriage or care fees is appropriate estate planning.

Lasting Power of Attorney: Separate from your will, ensure you have property and financial LPAs in place so someone can manage your assets if you lose capacity.

What to AVOID:

Companies promising your will can "protect all your assets from care fees" (it can't)
Lifetime trusts specifically created to avoid care fees (likely deliberate deprivation)
Transferring your home to children but continuing to live there rent-free (gift with reservation for IHT; potential deprivation for care fees)
Any scheme that seems too good to be true

WUHLD's position:

WUHLD's online will service is designed for straightforward wills. We don't offer complex trust arrangements purporting to protect assets from care fees. These require specialist legal advice from solicitors experienced in Court of Protection work and care planning.

If you're considering asset protection specifically to avoid care fees, consult a qualified solicitor specializing in this area. Be wary of any advisor who guarantees protection—legitimate specialists will explain the risks, limitations, and legal boundaries.

Appropriate will planning after downsizing includes:

Updating property provisions to reflect your new circumstances
Recording lifetime gifts to children from released equity
Including standard protective property trusts in your will (after death, not during life)
Ensuring executors have authority to make RNRB downsizing addition claims
Preserving documentation of downsizing transactions for tax purposes

None of these protect your own assets from care fees if you need care. They ensure your estate is distributed according to your wishes after death and protect any remaining estate for your beneficiaries.

Timing Your Will Update (Before, During, or After?)

The question isn't whether to update your will after downsizing—it's when. Update too early and the information may change. Update too late and you risk dying with a will that doesn't reflect your circumstances.

The three stages of downsizing:

Stage 1: Decision to downsize (planning phase)

You've decided to downsize but haven't yet found a buyer or a new property. This is too early to update your will with specific details, but perfect timing to review your current will and identify what needs changing.

Action: Review your existing will now. Note any address-specific gifts, executor provisions tied to your current property, and beneficiary distributions that assume your current estate composition. Create a list of required changes.

Stage 2: Under offer to completion (transaction phase)

You've accepted an offer on your property and are in the process of purchasing a new one. This is the ideal time to update your will.

Between exchange and completion, you know:

Exact sale price of your old property (released equity amount)
Purchase price of your new property
Your new address
Approximate estate composition going forward

Action: Draft your new will during this period. Have it ready to execute on or immediately after completion day.

Stage 3: Moved into new property (settled phase)

You've completed both transactions and moved into your new home. If you haven't yet updated your will, do it now.

Action: Update your will within the first month after moving. Even if you haven't yet allocated all released equity (to gifts, investments, or savings), update the property provisions and address details immediately.

Why waiting is risky:

Michael decided to downsize at age 68. He put his house on the market in March, accepted an offer in April, and completed the sale in June. Between April and June, he was busy packing, organizing the move, and dealing with the transaction. He told himself he'd update his will "after we're settled in the new place."

Michael died suddenly of a heart attack in July, three weeks after moving into his new flat.

His will still bequeathed "my property at 17 Meadow Lane" to his daughter. That property no longer existed—it belonged to the new owners. The flat passed under the residuary clause to his son. His daughter challenged the will. The legal dispute cost £18,000 and took 14 months to resolve.

If Michael had updated his will in May (between exchange and completion), his estate would have passed exactly as he intended, with no dispute and no legal costs.

The ideal timeline:

Month 1: Decision to downsize

Review current will against your downsizing plans
Identify all provisions that need updating
Gather information (current will, property valuations, beneficiary details)

Month 2-3: Property on market

Research will-updating options (solicitor vs. online service like WUHLD)
Draft outline of required changes
Discuss with partner if applicable

Month 4-5: Offer accepted, approaching exchange

Finalize will updates with specific new address
Calculate estate composition after downsizing
Prepare equalization clauses if gifting equity to children

Completion week:

Execute new will on completion day or immediately after
Give copies to executors with documentation of downsizing (sale contract, purchase contract)
Store will safely with records of old and new property values

6-12 months after downsizing:

Review will again once equity allocation is final
Update if substantial gifts, investments, or circumstances have changed
Confirm estate composition matches will provisions

The two-update strategy:

Many downsizers benefit from updating their will twice:

First update: On or immediately after completion—updates property addresses, removes old address-specific gifts, adds basic provisions for new property.

Second update: 6-12 months later—records all lifetime gifts from released equity, updates percentage-based distributions based on final estate composition, adds equalization clauses if needed.

Laura followed this approach. She updated her will when she completed her downsize in March 2024, changing "my property at [old address]" to "my primary residence" and updating her address. In September 2024, after giving £40,000 to one son for a house deposit and investing £180,000 in ISAs, she updated her will again to record the gift and adjust distributions to maintain equality among her three children.

When you're downsizing to a care home:

If you're downsizing because you're moving to residential care, update your will before the move if possible. Once in care, you may lack mental capacity to make a new will.

Ensure your will addresses:

Who receives your former home's sale proceeds
How care fees should be paid from your estate
Whether specific bequests should be reduced proportionally if estate is depleted by care costs
Lasting Power of Attorney arrangements (separate from will)

Special circumstance: Keeping old property as rental

If you're keeping your original property as a rental investment rather than selling, update your will as soon as this decision is firm. Your will needs to specify how the rental property is distributed (same as new residence, or different provisions?) and who manages it during estate administration.

The key principle: Your will should never be out of date with your actual circumstances. The window between selling your old property and updating your will should be measured in days or weeks, not months or years.

How to Update Your Will Without Paying £400+

Updating your will after downsizing isn't just necessary—it should be affordable and straightforward. Understanding your options helps you make the right choice for your situation.

The traditional solicitor approach:

Option 1: Codicil (£100-200)

A codicil is a legal amendment to your existing will. It's appropriate for minor changes like updating an address or changing an executor.

But here's the problem: After downsizing, you likely need multiple substantial changes—property provisions, beneficiary distributions, gift records, tax planning clauses, executor instructions. A codicil becomes complex and confusing.

Multiple codicils create interpretation difficulties for executors. "The will says X, but codicil 1 changes it to Y, and codicil 2 changes it to Z." Executors must read the original will plus all codicils together to understand your intentions.

Option 2: Full new will (£300-500+)

Most solicitors recommend a complete new will for downsizing changes. This revokes your old will and replaces it with a fresh document reflecting your current circumstances.

The process typically involves:

Initial consultation (1-2 hours, £150-200)
Review of current will and circumstances (included in consultation)
Will drafting by solicitor (1-2 weeks, £150-200)
Review appointment to discuss draft (1 hour, £50-100)
Final will execution with witnesses (£50-100)

Total time: 3-4 weeks and 2-3 appointments. Total cost: £300-500+ depending on complexity.

The cost-effective online approach:

WUHLD provides a complete new will for £49.99, regardless of how many changes you need from your previous will.

The process takes 15 minutes online:

Step-by-step questions about your circumstances
Automatic generation of appropriate clauses
Preview your complete will before paying anything
Download and print when ready
Execute with two witnesses using included witness guide

What's included for £49.99:

Your complete, legally binding will reflecting your post-downsizing circumstances
12-page Testator Guide explaining how to execute your will properly
Witness Guide to give to your witnesses
Complete Asset Inventory document (critical for tracking downsizing records)

No subscriptions, no hidden fees, no appointments required.

Cost comparison:

Service	Update Method	Cost	Time Required	Appointments
Solicitor codicil	Amendment document	£100-200	2-3 weeks	1-2 appointments
Solicitor new will	Full redraft	£300-500+	3-4 weeks	2-3 appointments
WUHLD new will	Online creation	£49.99	15 minutes	None

When to use WUHLD vs. when to use a solicitor:

WUHLD is perfect for:

Updating property addresses and provisions after downsizing
Recording lifetime gifts to children from released equity
Changing from address-specific to percentage-based distributions
Adding executor authority for RNRB downsizing addition claims
Updating beneficiary shares and equalization clauses
Straightforward estates with UK assets and direct descendants

You need a solicitor for:

Complex trust arrangements (beyond standard protective property trusts)
Business assets or partnership interests
International property or beneficiaries in multiple countries
Estates likely exceeding £2 million (RNRB taper issues)
Second marriages with complex asset protection needs between current spouse and children from first marriage
Agricultural property relief or business property relief considerations

For most downsizers, WUHLD provides everything needed. Your circumstances are likely straightforward: you've sold one UK property, bought another, released some equity, possibly helped children financially, and want to ensure your estate passes to your family as intended.

The preview advantage:

WUHLD's preview feature is particularly valuable for downsizers. Before paying anything, you can see exactly how your will reads with:

Your new property address
Updated gift provisions
Recorded lifetime gifts
Equalization clauses
RNRB downsizing addition authority
Current beneficiary distributions

This removes the uncertainty many older adults feel about online services. You're not paying and hoping it's right—you're reviewing the complete document first, exactly as a solicitor would show you a draft.

Update frequency made affordable:

Many downsizers update their will 2-3 times during the downsizing process:

Before downsizing (removing old address-specific provisions)
Immediately after completion (new address, new estate composition)
6-12 months later (after equity allocated to gifts/investments)

At solicitor rates (£300-500 per update), this costs £900-1,500 total.

With WUHLD (£49.99 per update), the same three updates cost £149.97 total.

This makes it practical to keep your will current throughout your downsizing journey, rather than putting off updates due to cost.

Start your downsizing will update:

Review your current will and note required changes
Gather information: new address, property values, gift amounts and dates
Visit WUHLD and answer the step-by-step questions
Preview your complete will free—no payment required
If it's exactly right, pay £49.99 and download immediately
Execute with two independent witnesses using the included guides

Your updated will can be complete today, not in 3-4 weeks, for a fraction of solicitor costs.

Downsizing Will Update Checklist

Use this comprehensive checklist to ensure you've updated every necessary provision in your will after downsizing. Work through each section methodically.

Property Details

Remove old property address from all specific gifts
Replace address-specific gifts ("my property at 15 Elm Street") with flexible language ("my primary residence")
Update your own address in will preamble ("I, [name], of [new address]")
Remove mortgage payment instructions if new property is mortgage-free
Update property contents and furniture provisions to reflect new property and its actual contents
If keeping old property as rental investment, add specific provisions for rental property management and distribution

Asset Distribution

Recalculate percentage-based gifts based on new estate composition (property vs. cash balance has changed)
Add equalization clauses if you gifted equity to some children but not others
Record all lifetime gifts with dates, amounts, recipients, and purpose
Consider adding hotchpot clause to bring lifetime gifts into estate calculation for equal treatment
Update any "property to X, cash to Y" provisions to reflect new property value and increased cash holdings
Review specific cash bequests (£20,000 to grandchild) to ensure estate can still afford them after downsizing

Tax Planning

Confirm primary residence still passes to direct descendants (required for £175,000 RNRB)
Add executor authority to make residence nil rate band downsizing addition claims
Include instruction to preserve downsizing records (original property sale price, new property purchase price, dates of transactions)
Verify estate value still qualifies for RNRB (under £2 million total; tapers above this threshold)
Document how released equity was used (gifts, investments, care funding) for potential tax implications
Consider whether 7-year rule applies to any substantial gifts made from released equity

Executor Instructions

Update executor addresses if they've also moved
Confirm executor authority to sell property is still needed (estate may now be more liquid with increased cash)
Remove property-specific powers no longer relevant to new circumstances
Add instructions about managing investment accounts if equity has been invested
Update any life interest or right-of-residence clauses to reflect new property value
Consider whether executor powers need expanding if you now own rental property

Gift Records

List all gifts to children from released equity with specific amounts and dates
Note whether each gift should count against that child's inheritance or be additional to their share
Record any assistance with house deposits, care costs, home improvements, or debt repayment
Include valuation date for each gift (relevant for 7-year rule calculation if gift exceeds annual allowances)
Document purpose of each gift (helps executors understand context and determine if equalization needed)

Special Circumstances

If keeping old property as rental: add provisions for rental property beneficiaries, management during administration, and rental income distribution
If moving to care home: update address, confirm asset provisions are appropriate, ensure will addresses how care fees should be paid
If downsizing freed up cash for care: ensure will doesn't create appearance of deliberate deprivation of assets
If giving significant equity to charity: add charitable gift provisions with registered charity numbers and backup provisions if charity no longer exists
If remarried with children from first marriage: review whether protective trusts are needed to balance current spouse's needs with children's inheritance

Documentation to Preserve

Sale contract for old property (price, date, parties)
Purchase contract for new property (price, date, address)
Records of all gifts from released equity (bank transfers, letters to recipients, contemporaneous notes)
Investment statements showing how equity was invested
Property valuations at date of sale and purchase
Solicitor's completion statements showing net proceeds
Any equity release or mortgage documents for new property

Action Steps

Review your current will against this checklist section by section
Identify all provisions that no longer match your circumstances
Gather all documentation listed above (sale contracts, gift records, investment statements)
Calculate new estate value: new property value + savings + investments + any remaining equity
Draft new will reflecting all necessary changes (use WUHLD to preview free before paying)
Execute new will with two independent witnesses (neither can be beneficiaries or married to beneficiaries)
Give copy of new will and all downsizing documentation to executors
Store original will safely and record location with executors

6-Month Review

Has all released equity been allocated (gifts, investments, spending)?
Have circumstances changed since updating will (beneficiary changes, additional gifts, health changes)?
Are percentage-based distributions still appropriate given final estate composition?
Do executors have all documentation they need for RNRB downsizing addition claims?
Is estate value significantly different than expected when will was updated?

If you answered yes to any of the above, consider reviewing and potentially updating your will again.

Protecting Your Estate Through Life's Major Transitions

Downsizing is one of life's major financial transitions, releasing an average of £112,000 to £498,000 in equity for UK homeowners. Yet most people update their address with the bank, the council, and the GP—but forget the most critical document: their will.

Key actions to take:

Update your will as soon as you complete your property sale, ideally between exchange and completion when you know exact figures
Replace any address-specific gifts with "primary residence" language to avoid ademption
Protect your £175,000 residence nil rate band by including downsizing addition authority for executors
Record all lifetime gifts from released equity with dates and amounts to prevent unintended inequality among children
Recalculate percentage-based gifts—your estate composition has fundamentally changed from property-heavy to cash-heavy

Margaret's story at the start of this article represents thousands of UK families who carefully plan their downsizing finances but overlook the legal implications. Her children spent £12,000 in legal fees trying to resolve the conflict between her will and her actions.

Don't let administrative oversight undermine your carefully considered plans for your family's future. The difference between a will that works and one that creates family conflict is often a single afternoon of updating.

Update your will now for £49.99 with WUHLD's online service—the same price whether it's your first will or your fourth update.

Preview your complete will with updated property provisions, gift records, and distribution clauses free before paying anything. No subscriptions, no appointments, no hidden fees—just a legally valid UK will that reflects your new circumstances, ready in 15 minutes.

For £49.99 (vs £300-500+ for a solicitor), you'll get:

Your complete, legally binding will reflecting your downsized circumstances
A 12-page Testator Guide explaining how to execute your will properly
A Witness Guide to give to your witnesses
A Complete Asset Inventory document to track all downsizing records for RNRB claims

Preview Your Will Free – No Payment Required

Legal Disclaimer: This article provides general information about will updates after downsizing and does not constitute legal or tax advice. For advice specific to your individual situation, particularly regarding inheritance tax planning, asset protection, or complex estate arrangements, please consult a qualified solicitor specializing in estate planning. WUHLD's online will service is suitable for straightforward UK estates; complex situations involving business assets, overseas property, or sophisticated trust arrangements may require professional legal advice.

Asset Protection Disclaimer: Asset protection and care home fee planning is a complex area of law. Many 'asset protection trusts' sold to seniors don't work as promised and may constitute deliberate deprivation of assets under local authority assessment rules. Always consult a qualified solicitor specializing in Court of Protection and care planning before implementing any asset protection strategy. WUHLD does not offer complex trust products or asset protection schemes.

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