Life happens. Plans change. Children arrive, relationships evolve, and that perfectly crafted WILL you wrote years ago might feel as dusty as an attic heirloom.
So when should you consider giving your will a facelift? Here are times to note for a Revisit with your Estate Plan:
● Major life changes: Marriage, divorce, new children, or losing a beneficiary are all strong signals it’s time to revisit your will, and or Trust. These milestones can significantly impact your wishes for the distribution of your assets and guardianship arrangements for your children.
●Shifting assets: Have you acquired a new property or valuable investment? It’s time to update your list of beneficiaries and ensure everything aligns with your current wishes that you want to include in your will. Failure to include new assets in your will or properly fund these new assets into your Trust can lead to disputes and unintended consequences for your loved ones.
● Legal tweaks: Laws change, and so should your Estate Plan. Our firm can help ensure your document complies with any new regulations. Legal updates are essential to ensure your will is valid and enforceable, protecting your wishes and the interests of your beneficiaries.
Tips to Revise your Will and Trust
Updating your will doesn’t have to be a daunting procedure. Here are some helpful tips:
● Gather your documents: Retrieve your current Will and Trust, birth certificates, marriage licenses, property deeds, acquisition paperwork, and any other relevant documents. Having all your documents in one place will streamline the updating process and ensure nothing is overlooked.
● Make a list: Think of any and note down any changes you want to make, including new beneficiaries, asset allocations, and specific wishes for your loved ones. Having a clear list will help you communicate your wishes effectively to your attorney and ensure nothing is missed during the update.
● Find legal guidance: The attorneys at Bartal Law Life & Legacy Planning are here to ensure your updated will and trust are valid and legally sound, and are according to your wishes and in light of changing laws. We are here for you throughout life natural changes. Professional legal guidance can help you navigate complex legal requirements and ensure your wishes are accurately reflected in your estate plan.
Update Your Will and Trust
Do you have a will or Trust that is more than 3 years old? It’s a good practice to revisit it!
Start by booking a Peace of Mind Planning Session. We will review your current estate planning documents and give our recommendations if we believe updates are warranted.
Book your session HERE.
Mention this blog and we’ll waive the $450 session fee!