Reasons to Review Your Will
Some people can go several years without reviewing their wills. They might think that once they’ve drafted a will that’s it, others may get busy and not really think about it. It’s easy to forget because many people put it in a safe at home or a safe deposit box. As the saying goes, “Out of sight, out of mind.” But keeping something so important out of mind could cost you. Life happens and could require you to review your will and update it. A new marriage, divorce, you might have come into a whole lot of cash, or maybe had a child.
Whatever reason, below is a list of a few more possible life changes that will require you to update your will to be sure your wishes are met after your passing.
- A change in your relationship.
- You move to a different state.
- You’ve come into some money.
- You move.
- Your spouse passes away.
- Your children reach legal age.
- You want to name new people or take someone out.
- You want to add a charity.
- Assets change.
- Tax laws change.
- You start a business.
- If you fall ill.
It is important to review your will every three to five years and when big milestones occur in your life. Your will is a valuable tool that facilitates the transfer of your assets. Keep in mind; you can’t alter your will by simply marking something out or adding something new.
Experienced Estate Planning Attorney
It is a good idea to visit your attorney or tax advisor for help in updating your will. But if you currently do not have a will, it is time to make an appointment with an experienced attorney to help you and your family get started. Contact Edmondson Law, PLLC at 972-442-8326 to advise you in properly drafting a will.
Information, Not Legal Advice. We provide the information on this website as a public service. The legal landscape is constantly changing and being modified by state law and case law. As a result, we cannot promise that this information is always up-to-date and reflective of the most current jurisprudence.
We do not intend this information to be legal advice. By providing this information, we are not acting as your lawyer. If you need legal advice, you should contact a lawyer through our number (972) 442-8326 or contact another attorney of your choosing.