Putting into place a last will and testament should be something every adult should make a priority. It’s about protecting our loved ones, protecting what we’ve worked our entire lives to achieve and providing something for those loved ones that will allow them to better protect and enjoy the lives they too are building. Unfortunately, many will never get around to creating this important document, which is a shame considering the absence of these important legal documents can result in big problems for the entire estate process. Specifically, it can create problems for family members and other loved ones who must now go through the time consuming probate process, complete with legal costs and other financial expenses. Then, of course, there’s the potential for hurt feelings and severed ties within that family unit.
Updating Your Will
It may be an unpleasant task but it is an important one, one that every person should take the time to complete. Even if you think you don’t need a will, odds are, the presence of one would make things far easier on your loved ones. It’s not expensive, nor is it overly time consuming.
Ensuring You’re On Track
Having a valid will is always better than having nothing, but there are times when an outdated will can create an entirely new set of problems. For most people, taking the time to review it periodically is time well spent. You want to be sure it is current and addresses any new family additions or other changes in your family. You want to be sure it’s still in line with what you initially decided.
Is it time to take a closer look to check those details? Chances are good that something in your life has changed in the time since you last reviewed your will. Marriages, divorces, births, deaths, job changes, houses sold – the possibilities are many and you want to ensure it’s all reflected in your last will and testament. If they’ve impacted your life, these events will likely impact your future.
Fortunately, updating your will isn’t nearly as daunting as creating it for the first time. It just times a bit of a time commitment. Once it’s created, the foundation is in place and it’s really just a matter of ensuring all of those life events are reflected in periodic revisions.
Finally, while it’s tempting to take advantage of the many online sites that offer downloadable legal forms, we encourage you to remember these documents can sometimes create many problems. Laws vary from one state to the next, the laws change, too and if you’ve overlooked one detail, it can have long term repercussions for your family. There’s a lot at stake – the peace of mind you’ll find in knowing an experienced estate planning lawyer has verified the legalities, checked to ensure there are no vulnerabilities and provided advice on future planning goes a long way.
If you’d like to learn more about these important documents, contact our office for a complimentary consultation. We’re happy to discuss your goals and help make sure you’re on the path to a solid last will and testament.