Why Would I Need To Change My Will?
September 21, 2015
Your will is one of the most important documents you will ever draft. It dictates what happens to your estate when you pass away and ensures the proper heirs are given their inheritance. Some residents in Florida may think writing their will is just a “fix it and forget it,” type of document. However, there are quite a few reasons why you may need to change it.
Your marital status is a prime reason you may want to adjust your will. When you get married, you want to ensure your spouse is taken care of in the event of your death. If you do not leave a will, your spouse may only get a fraction of what you intended to leave them. On the other hand, if you get divorced, you will want to make sure your will reflects this change in your life, lest your ex gets a sizeable portion of your estate. This can be especially disastrous if you get remarried.
When you have children, you will want to ensure they are taken care of when you pass away. But more than that, you will need to name a guardian in your will to make sure any minor children are looked after by the right person; not doing so could leave the decision in the hands of the state.
Finally, you simply need to have your will reviewed every few years, especially as you move towards middle-aged. Your assets grow, and your life situation generally changes. Your estate plan should reflect that. In addition, laws are constantly changing, so you need to make sure you stay up-to-date.
Estate planning can be a complex venture. As such, it may be beneficial to consult with an experienced attorney to make sure nothing — and no one — gets left out.