How to Update My Last Will and Testament

 

The Last Will is one of the most important legal documents you may create to specify what should happen with your properties after your death.  People, who die without an existing Will, will leave their beneficiaries without any means to dispute the distribution of the deceased properties.  It allows you to do advanced planning on the state of your properties. Let’s accept it, death will come to all of us, but with Last Will, you have this power to ensure that your family will still receive your support.  However, there are also instances when you need to update it.  This article will serve as a guide for people who have a question on ‘how to update my Last Will and Testament’ and when you need to update it.

 

Reasons to Update my Last Will and Testament

 

An outdated Last Will and Testament will not reflect the changes that happened in one’s life. It can reveal countless issues that may lead to severe conflicts between the members of the families once you pass away.  There are kids from the first marriage who are left with nothing simply because the wordings used are not specific.    Here are some reasons that say you need an attorney to help update your Last Will and Testament.

 

How to Update My Will


Update Your Last Will and Testament When You Move

 

For people who decide to relocate to a new state, their Wills will definitely need to be updated.  Though it will not be necessarily invalid under certain conditions, you also need to be aware that different states have different laws and standards for creating and implementing Last Will and Testaments. Familiarize yourself with the local regulations and call the assigned state department to walk you through the whole process.

 

A Change in Asset

 How to Update My Will

You will also need a Lawyer to update a Last Will and Testament to reflect any changes in your assets.  Your assets should not just be limited to your estate or investment.  You can also include jewelry, personal worth, artwork, and different real estate properties in your ‘personal’ properties. As long as it has value, even a comic book collection can be added to your last Will.

 

A Change in Life

 How to Update My Will

If you were still single when you made your Will, it would need to be updated once you get married.  You need to include the name of your spouse and your children.  You may also need to update it when you are in a legal dissolution of your marriage.  Regardless of your situation, you may contact an attorney to help update your Last Will and Testament.  Having a new child also calls for an update of your Will, whether it is an adoption or a child by birth.  Make sure that it is specific to avoid any issues; name your child and the properties that will be dispersed upon your death.  However, you also need to understand that the law in some states prevents any minors from accepting gift that is over $5,000.

 

Finally, you also have the option to add a codicil to add or change a provision on your Will.  However, the use of computers is making codicil irrelevant.  There is also a possibility that the codicil will not perfectly fit your existing Will, and it may also negate a provision written on your last Will.  In the end, the more convenient approach is still to update your Last Will and Testament.


Hiring Last Will and Testament Lawyer

 

Many people opt for a DIY last will because of the common misconception that it can take a hefty amount of their budget. Nonetheless, hiring the service of the last will and testament attorney is the wiser choice for you, both monetary and legally. The reasons below will make you understand why you should hire a lawyer to create your last will.

 

Why Hire Last Will and Testament Lawyer

 

closing argument

First, it is essential to understand the things about the last will. A will is a document in which the testator (in most cases, it should be you) states about the person, institution, or organization that will manage the wealth at the time of a person’s demise. Most of us think it will consist of immense investments such as vacation houses, vehicles, and businesses. Still, it can generally consist of the entire belongings of the testator, including his photos, personal letters, and other things that holds dear to the testator.

 

So, what’s the possible scenario if a person dies without a last will and testament? The testament needs to be valid for it to take effect; that is why you need an attorney to guide you. If it is not valid or you do not have a last will and testament, you will become intestate. In this case, your properties will be awarded to the fittest person based on the law.

 

When should you hire a Last Will and Testament Lawyer?

 Last Will and Testament Lawyer

Consulting an attorney is generally the best idea when preparing a legal document, especially with a last will and testament. When designing a last will and testament, you might be caught in different situations, such as the things mentioned below that will make things more complicated. So it is best to ask a lawyer to prepare it.

 

·         If there are more than one people that will inherit your properties.

·         If there are people, you wish to exclude from the will, especially if they are stated in the law as those who will inherit the assets by default.

·         If it involves a tremendous amount of asset

·         If it is a more complex process, i.e., an older guy who remarried

·         If you own a business

·         Leaving your asset to an institution like a place for the incapacitated kids or less fortunate people

·         If you need to arrange other legal documents related to the last will and testament

 

Benefits of hiring attorney

 Last Will and Testament Lawyer

Record

 

A do-it-yourself last will and testament will have a tendency to be misplaced. On the other hand, the state will go into extra mile to keep a copy of the legal document. Losing the will and testament record is equivalent to the revocation of the document.

 

Legalities

 

A last will and testament attorney is aware of the legalities behind these documents. Legal documents need to be signed appropriately and be published. Based on the law, a witness should be present when signing the said documents.

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