When it comes to wills, many people don’t realize that they need to be updated from time to time. Without a current will, those left behind may be faced with extended probate periods, or worse. Unfortunately, many people aren’t aware of the circumstances that would require an updated will. Here are just three of the reasons people should update their plans.
Many people have their first will drawn up as soon as they’re married. They don’t realize that once they have children, they need to sit down with an attorney who specializes in wills & trusts. During their appointment, they’ll need to amend their will to include the birth of their child. They’ll also need to update their will after each subsequent birth. If people are going to include grandchildren in their wills, they should include that information in their updated wills, as well.
Changes in Marital Status
Another problem that can arise is when people fail to update their wills following a divorce. Without an updated will, an ex-spouse could stand to inherit an estate, even if the other spouse has remarried. To avoid this type of problem, people should sit down with a wills and trusts attorney as soon as they file for divorce. It’s important that they update their wills again once they remarry.
Changes in Health and Age
Most people don’t realize that their wills should change with them. This is particularly important when it comes to aging and health. Once a person reaches retirement age, they should sit down with an attorney who specializes in elder law. This ensures that their will includes language that will protect them as they age. When speaking to an attorney who deals with elder law, individuals should ensure that they have the proper documentation for power of attorney, and health care directives for end-of-life procedures.
When planning for the future, it’s important that people sit down with an attorney that does wills.
Individuals needing help or assistance in elder law or estate planning services can easily contact Mortellaro Law—the best estate planning attorneys in Tampa, FL.
To schedule a meeting with an attorney, please call 813-501-6945.
Schedule a Free Consultation
What You Need to Know
Irrevocable Trust Planning
Caregiver Guilt – What You Need to Know
Difference Between Elder Law and Estate Planning