Five Reasons To Update Your Will

Now that you have a will, you may think that you are done. However, it is important to check your will periodically and make the necessary changes to ensure that your final wishes will be followed.

Here are some reasons to update your will.

  • Any changes in your family. If you get married, divorced, have children, or lose someone that you love, it is important to make sure that your will gets updated. You may adopt, become a grandparent, lose a family member, or have another big change to your family which means that you want to add or subtract someone from your will.
  • Any changes in your relationships. You may want to make sure that some of your friends get some of your things. However, what happens if you are no longer friends? What about some of the new ones that you may acquire throughout your life?
  • If you move (especially to another state). If you have moved to another location or state, the laws may be different. This simply means that you may have to make some changes to your will. Be sure to visit a local attorney to make sure that your will still is valid and applies.
  • Any changes to your assets. Anytime you buy or sell a home, get some extra money, or even lose some, it is important to update your will. Anytime that you get a new insurance policy or pension plan, you may have new beneficiaries to add.
  • Give it a regular checkup. You should probably just glance at your will on a regular basis to make sure that it is exactly the way that you want it.

Whether you think you have had any changes in your life or not, it never hurts to check over your will at least once a year. However, if you have any changes in your family and friends, you should update it, as well as if you have any changes to your assets.

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