Keeping Wills Updated

Many people are aware of the importance of setting up an initial will or trust so that their loved ones will be cared for and their property distributed according to their wishes upon their passing. However, this is only an important first step in taking responsibility for your family and finances when you are no longer able to do so directly. Many life changes will have an effect on how your will or trust will be carried out, and it is also important to periodically review your will and make sure it still reflects your wishes.

When to Update

There is no set rule for how often you should update your will. However, it is important to think of how transitions in your life could affect either your wishes for how your assets should be handled or the way your will would be carried out. Some times to consider updating your will:

• Any time your family structure changes, which could include a birth, death, marriage, divorce, or adoption
• If you move out of state
• You experience a major career change
• Your assets increase or decrease in value dramatically

Even if none of these events occur, it is a good idea to periodically check in with your lawyer to make sure no updates are needed. The laws governing wills could change, or your own desires for how you would want your estate handled could shift over time.

Contact Us

The importance of keeping legal documents such as wills and trusts updated cannot be overstated, but the laws concerning these documents are complicated. To provide for your loved ones and make sure that there would not be any delays in processing your will, contact the Oceanside estate planning attorneys of Fischer & Van Thiel, LLP, at 760-722-7646 today.