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Terry’s New Book Is Here!
The Best Way to Update Your Will Without Confusion
How to Ensure Your Will Reflects Your Current Wishes A SIMPLE GUIDE FOR PEACE OF MIND
Whether getting divorced or welcoming a new child, you may need to change or revoke your will to reflect any life changes. Why? Because significant changes can affect how your assets are handled. Common reasons for adjusting a will include marriage, divorce, new family members, financial changes, buying or selling property, or appointing a new guardian for a minor. So, how do you change a will? In the past, people added a codicil, an amendment to the original document. However, codicils can create confusion and legal disputes. They require signatures and witnesses, just like a will, which can make them more of a hassle than they’re worth. A simpler approach is to create a new will entirely. This new document should clearly state that it revokes all previous versions, including any codicils, ensuring your latest wishes are honored without question. Creating a new will is generally no more complex or costly than adding a codicil and provides a clearer legal foundation.
Sometimes, you may need to revoke your will but are not ready to make a new one, but simply destroying the current will might not be enough. If other copies of the will exist, a probate court might still consider those copies valid. Revoking a will is essentially canceling it. Once a will is properly revoked, it no longer exists legally. If you’re considering revoking your will, it’s essential to do so through legal means to ensure your intentions are clear. Only the person who created the will, known as the testator, can revoke it. Once the testator dies, the will becomes legally binding and cannot be changed or revoked. Whether you need to account for new family dynamics, financial shifts, or relocations, ensuring your will accurately reflects your wishes is crucial to avoid future confusion and legal complications. If you are unsure how to proceed or have concerns, consulting with an experienced estate planning attorney can provide peace of mind and help safeguard your legacy.
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