First of all, you should seldom update a field with values derived from other
fields. It's almost always better to run the formula as needed in a query,
form, or report. What happens if someone changes the value in Date1 but
doesn't update the table? Inconsistant data.
Second what kind of fields are Date1 and Date2? What kind of answer are you
looking for: years, minutes, seconds?
365.25 is kinda close in accounting for leap years; however, Access has some
very accurate date functions such as DateAdd to do the job.