Keeping Your Will Updated

It is a prudent although sobering step to make the first draft of your will.  Although none of us care to think of our eventual passing, it can help your loved ones immensely if you make plans for this eventuality.  However, having drafted an initial will is only the beginning of providing for your family after you are gone.  As time passes, many factors could change the way you would like to have your property and assets disbursed.  Therefore, it is necessary to make sure your will is updated regularly in order to provide for your loved ones.

Often individuals have drafted a will but it is not kept up-to-date, and when they pass away, the family must still go through a long and often painful process of having the will scrutinized and judged in probate court, and in the end the wishes of the individual may not be carried out.  This can be especially difficult if there are minor children of the deceased individual.  Wills often discuss who should have custody of a child in the event that the parent(s) or guardian(s) pass away.  If this information is not kept updated, children may end up in an undesirable situation.

There are no set rules on when wills should be updated, but the following are some times you should consider revising your will and other legal documents: if your financial situation changes drastically, if you move to a new state, if there are any changes to your family structure, if there is a major change for the prospective guardians you have appointed for your children should you not be able to care for them, or any other major life change, such as a new career.

Remember, it is better to be safe and update your will too frequently than not enough.  However, this can be a complex process and is something you should consider contacting an experienced attorney for.  If you need to update your will, call a probate attorney.