When is the right time to update your will or trust?
Changes occur in everyone’s life. When changes such as marriage, birth, divorce, child adoption, death of a family member, or the value of an estate affect the terms of a will or trust, it is essential to update your will or trust. In that case, it is advised to consult an estate planning lawyer.
Any major change in your life is a good reason to make your will or trust current. Furthermore, if you have not yet set up a will or trust, now it the perfect time to do so. The last thing you would want is for the courts to decide all matters of distribution for you when you die without a will. The last thing your family would want is a higher tax burden in case your will is not updated.
Most often, wills are written years ago and do not reflect significant changes. Updating your will or trust can help avoid unfortunate situations such as leaving assets to deceased spouses or not recognizing new grandchildren as beneficiaries.
An estate planning lawyer can help you update your will or trust to reflect how you would like to allocate your estate. A lawyer can create an amendment to your will, print it out and have it signed and witnessed.
About Camilo Concha:
Camilo Concha, is the founder of Attorney Search Network, a Lawyer Referral Service in California certified by the California State Bar and meets all the American Bar Standards as a Lawyer Referral Service. Attorney Search Network has been in business for over 11 years.