Each year, countless Americans take the all-important step of creating a will. Working with a McKinney living will attorney to develop a comprehensive estate plan can feel like a relief if you have been delaying the process. But often, the importance of keeping the documents up-to-date as time passes may not be emphasized. So if you have created a will in the past and feel it might be out of date, here’s what you need to know.
The Importance of Updating a Will
Creating a last will and testament is a difficult task that many people unwisely choose to avoid. Decisions that affect the future of your family make it necessary for you to put your preferences in writing. Updating your will is much easier than creating it, however, and Attorney Joe Lucé can make it easier than you may think possible. At Lucé Law, PC, you have access to a trusted advisor who is experienced in business and family law.
Why Should You Update Your Will?
Your life is an ever-changing set of circumstances, and your will needs to reflect the changes that occur. In consultation with the attorneys at Lucé Law, you can update your will with regard to these important considerations:
- the people you name as heirs, executors, guardians, and trustees
- the status of assets such as properties or insurance policies
Your attorney may suggest additional areas that need your attention. Significant changes to wills are often related to people and assets, and those are probably the ones that concern you as well. An estate planning attorney can help determine areas where your will is outdated and requires additional work.
Why Updated Will Documentation Is so Crucial
In the short span of a year, you can experience the loss of a loved one or the birth of a new baby. Relationships that you thought were permanent can change quickly, and you probably want to include new ones as they develop. You know your intentions, but they remain only in your mind unless you put them in your will. Estate planning with a McKinney attorney gives your affairs the legal standing that they deserve.
In stressful times, it is helpful to have a current document that provides clear instructions on your end of life preferences. Families have a chance to work together congenially when you enumerate your preferences properly with a McKinney attorney.
How Often Should You Update a Will?
The duration of time between will updates is always dependent on personal circumstances. Significant life events might demand changes to the document to protect your estate or family members. For example, major financial changes, the birth of a child, a divorce and so on will impact a person’s life, and a will could quickly become outdated.
An estate plans attorney should make adjustments to factor in these new changes as soon as possible. However, when little has changed in a person’s life, legal professionals often recommend updating wills every three to five years.
Contact a McKinney Estate Planning Attorney for Wills and Trusts
Lucé Law, PC works with clients in North Texas to create and update wills. When you need help with a will, trust or other vital estate planning solutions, don’t hesitate to contact us. For assistance, call (972) 632-1300 or request a free legal consultation today.