Your will is one of the most important legal documents you can create. This is a document that declares how your assets should be divided amongst your loved ones in the event of your passing. However, our lives change drastically over the years and what made sense at one point may no longer. It is important to update your will to reflect your current situation, relationships, wishes, and more. Read on to learn more about how you can update your will.
When should I update my will?
Generally, you should take a look at your will every 3-5 years to make sure it is still up to date. You should update your will whenever a major life change occurs. Some common examples include a marriage or divorce or the birth/adoption of a child. Sometimes you will need to remove someone from your will. For example, if a loved one is listed in your will and he or she passes away, you will have to remove him from your will.
What is a codicil?
Generally, in California, the easiest way to amend your will is by writing a codicil. A codicil is a document that can explain, modify, or revoke part of a will. When making a change to an old will, the individual can label the document a codicil to that will and sign the document. This must be done in the presence of two adult witnesses. This works best in the event of small changes, such as adding a new child to a will so they can inherit assets from the estate. However, complex changes can be more difficult and things can go wrong. For example, it is possible to create a codicil that contradicts the original will. In some cases, the best option is to simply create a new will and revoke the old one. However you choose to update your will, it is important to work with an experienced estate planning attorney who can ensure that the updates are valid and your estate plans remain organized.
If you are interested in updating your will, contact our firm. We are here to walk you through the process and help ensure that your future is secure. Contact us today to speak with a skilled attorney and begin the process.
Contact our Firm
Estate planning is a more urgent matter than you may think. You never know what the future holds. Contact The Law Offices of Yacoba Ann Feldman to schedule a consultation today.