At Jones, Childers, Donaldson & Webb, PLLC, we help many individuals and families with one of the most important aspects of estate law: putting together a will. This document outlines what you want to happen with your assets after you pass away while also allowing you to name a guardian for any minor children you have.
One part of estate law that many people do not realize is that once you create a will, this document should not remain stagnant. Here are a few signs you should take a second look at your will and update it if necessary:
- Change in marital status — Did you recently get married or divorced? You may need to revise your will. Update your will so that this document reflects these changes in your marital status.
- Birth or adoption of children — Adding dependents to your family often necessitates updates to your will to ensure they are included and provided for.
- Significant financial changes — If you recently experienced major changes to your financial situation, such as receiving an inheritance, purchasing property, or creating a business, your will may need some adjustments.
- Changes in beneficiaries — If you want to add or remove beneficiaries from your will, or if the circumstances of your beneficiaries change, you will need to change your will.
- Changes in guardians or executors — If your chosen executor or guardian becomes unable or unwilling to serve, it is important to select new ones.
If you need help updating your will or with any other aspect of estate law, reach out to our law firm today.