Welcome to WPH Law's guide on updating your will. Ensuring your will remains up-to-date is important for ensuring your wishes are protected and carried out as you have planned. This guide will walk you through the steps necessary for updating your will, and share examples of when to update your will throughout your life. Stay informed and secure your legacy with expert advice from WPH Law.
How to Change a Will
Understanding how to change a will is important for anyone with an existing estate plan. There are a few ways you can change your will, and an attorney can help ensure you understand the and the legal considerations . The most common way to update your will is by creating a codicil. A codicil is a basically an amendment to your will that outlines specific changes without requiring you to draft an entirely new document. This is often the preferred method when you only need to make minor changes, such as updating the names of beneficiaries or revising the terms of a specific gift to a specific beneficiary.
Review your estate plan thoroughly before making any changes to your will. Begin by gathering all pertinent information about your real estate (e.g. addresses, ownership), other assets, and a complete list of beneficiaries. Then, request a consult with your lawyer to update your will. Updating your will with the assistance of your lawyer will ensure your document complies with state laws. Laws governing wills and probate can differ significantly across states, so professional legal advice ensures your will is legally binding.
Your attorney may recommend you create an entirely new will if you’re considering significant changes, such as changing who inherits certain assets or your named beneficiaries (especially after major life events, such as marriage, divorce, the birth of a child, or the death of a loved one). These events often necessitate changes to your estate plan to be sure the distribution of your assets align with your current wishes. Updating your will in response to these changes helps to ensure that your estate plan remains relevant and effective. Refer to the table below for more examples of life events that could require an update to your will.
If you have a new will drafted, be sure your attorney adds a clear statement that explicit revokes all previous wills to help avoid confusion or conflicts during the probate process.
Any changes to your will should be clearly documented. Using unclear language in your will could lead to disagreements among your beneficiaries if your intent isn't absolutely clear. When updating your will, outline each change to eliminate any confusion. Use plain language that states exactly what your wishes and intentions are. Your lawyer will review your updated document to ensure it accurately reflects your wishes and meets all legal criteria.
Understanding how to change your will and recognizing when updates are necessary are key to ongoing estate planning. Whether you opt for a codicil or decide to draft a new document, the expert guidance of your lawyer will ensure your will complies with the law. At WPH Law, we specialize in helping clients navigate the complexities of estate planning and ensuring your final wishes are documented precisely as intended.
For more detailed information on updating a will, and to discuss your unique circumstances, don't hesitate to contact our estate planning attorneys.
When to Change Your Will
| Reason | Description |
|---|---|
| Marriage or Divorce | If you get married or divorced, you may need to update beneficiaries and asset distribution. |
| Birth or Adoption of a Child | Add new children or adopted children to ensure they are provided for in your will. |
| Death of a Beneficiary | If a beneficiary passes away, you'll need to redistribute their share of the inheritance. |
| Significant Financial Changes | A large increase or decrease in assets may require changes in asset distribution. |
| Changes in Relationships | Changes in friendships or family relationships may require updates to your will. |
| Moving to a Different State or Country | Different jurisdictions have different inheritance laws that may affect your will. |
| Changes in Tax Laws | Ensure your will takes advantage of new tax laws to maximize estate value for beneficiaries. |
| Change in Executor | If your chosen executor is no longer suitable, you’ll need to appoint a new one. |
| Health Changes | Significant health issues may prompt you to reassess your will and end-of-life care wishes. |
| Disposition of Specific Assets | If you acquire or dispose of significant assets, you may need to update their distribution. |
| Initial Estate Planning Errors | Correct any mistakes or omissions in your original will. |
| Charitable Inclination | To include new charitable donations or to update the terms of existing donations. |
| Changes in Responsibilities | Increase or decrease in caregiving responsibilities may impact your asset allocation. |
| Blended Families | To ensure that children from a previous marriage are not unintentionally excluded. |
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