Your last will and testament allows you to dictate who will inherit your assets after you die, and it is also the foundational element of your entire estate plan. As an estate law firm, we have many clients who turn to us to initially create their will but then do not make necessary changes to this document as their life evolves. If you originally chose us as your estate law attorneys, here are some signs you should talk to us about updating your will:
- You recently got married or divorced—If you recently got married, you may want to update your will, so your spouse can become the primary inheritor of your assets. And if you recently got divorced, update your will, so your assets do not accidently go to your ex.
- You had a child—Your will gives you the opportunity to name a legal guardian for your children. If you recently had a child, edit your will, so your guardianship specifications reflect your current wishes.
- You experienced changes to your wealth—Did you recently receive an inheritance, land a lucrative business deal, or experience a significant change to your personal wealth? Take time to update your will and consider other estate-planning vehicles that can help you protect your wishes and the value of your estate.
In addition to any major life changes you experience, you should review your will on a yearly basis. And if you need additional help and advice from our estate law attorneys, do not hesitate to contact our law firm.