The new year is a great time to make resolutions and create meaningful changes in your life. Whether you want to stay more organized or exercise more, there’s no time like the new year to start. However, one thing many people don’t take care of is their estate plan! If you’re unsure why you need to update your estate plan for the new year, you’ll want to keep reading. You’ll also discover how a Putnam County estate planning attorney can help.
Why Should I Estate Plan for the New Year?
A lot can change in a year. From new children or grandchildren to marriages and divorces, your life can look drastically different than it did last year. This is why it’s essential to update your documents or create an estate plan if you haven’t already.
Because there are many events that can impact your estate plan over the course of one year, your current will or trust may not reflect your wishes. This is why it is imperative to update your document to ensure your wishes are met. If you do not update your plan, your estate may not be distributed how you would like it to be, as your executor must follow what is written on the legal document.
How Do I Make Changes?
In order to update your estate plan, there are a few different methods you can choose. One of the simplest ways is to create a codicil, which is an amendment of your will. This is done by simply writing the change you wish to make on another piece of paper, signing it, and keeping it with your estate plan. This method is great for making less significant changes to your document.
However, if you need to make substantial changes, it may be better to create a new will. To do this, you must revoke your current will, which can be done by destroying the original document and its copies. You will then need to create a new plan. This is true for both wills and living trusts.
Do I Need a Lawyer?
When updating your estate plan, ensuring you have a lawyer there to guide you through the process is essential. They can help review the validity of the documents to ensure everything is in accordance with the law. This helps guarantee your will can be distributed according to your wishes. After all, you don’t want to make changes only for them to be invalidated because you did not have the correct legal guidance to ensure the document is legally valid.
If you need help updating or creating a will, ensuring you have a seasoned attorney ready to guide you is crucial. Contact the Law Office of Andres D. Gil to connect with a lawyer who can help you navigate the estate planning process.