Many responsible people execute a Last Will & Testament; but unfortunately, many of those same people shove it in a drawer and forget about it for years, sometimes even decades. Failure to keep your Will up to date can lead to just as many problems as not having a Will at all. When you initially execute your Will, it represents your intentions and feelings as of the moment you sign the Will. However, as you become older, your circumstances and desires often change.
For instance, your relationships with the people in your life evolve; you may get married or divorced; you may have children, additional children, or grandchildren; your finances may change; beneficiaries named in your Will may pass away; or you may simply have a change of heart regarding how you truly want your assets distributed after your passing.
If you fail to keep your Will up-to-date to keep pace with your evolving circumstances and desires, your Last Will & Testament may not be a reflection of your actual wishes when you die. The most significant people in your life may not be represented in your old Will, which means you could be leaving those you love the most with no part of your estate. Even worse, your old Will may designate a portion of your estate to someone you have grown distant from over time. Revising your Will allows you to remove such an individual and lets you replace them with someone you feel deserves to be one of your beneficiaries.
If you believe you have experienced changes that may impact your intentions after you pass, be sure to review your Will to make sure the mandates you spelled out initially still reflect your true wishes. If they do not, contact Jason D. Briel, Esq. at the law office of Winegar, Wilhelm, Glynn & Roemersma, P.C. to schedule a consultation.