Updating Will & Estate Plans

When  Should I Update My Will and Estate Plan?

Generally, there are some life events and circumstances that would make you want to have your estate plan reviewed by an estate planning attorney. Some of these events would be:

1. Going through a divorce. Your property settlement could have a direct bearing on your estate and you might want to change the beneficiaries in your will.
2. Getting married. At the same time, you need to include your new spouse in your will and estate documents when you get married.
3. When you have a new addition to the family such as a son, daughter, or grandchild.
4. When you move to a new state. Every state has different laws concerning wills and probate. What might be acceptable in one state might not be so in another state. It’s wise to consult with an attorney when you change your residence to another state.
5. When someone named in your will as a beneficiary or an executor dies. When you have someone who is named in the will pass away, you should always consult with an attorney to see what effect this will have on the will and other estate documents.
6. The property in your estate goes through a major change. Any major change in the value of your estate as well as a change in the kind of assets you have should always prompt you to have an attorney review your will and other estate documents.

Please remember that this is general information and is not intended to be legal advice. If you want specific advice on your estate plan, please call us for a free consultation.