Years may have passed from the date you established your last will and testament. With this, you may be unable to recall the exact terms and conditions you wrote in this estate planning document. This is why it is almost always recommended to routinely look back at this document, and make changes as you deem fit. Follow along to find out why it might be best to amend your will and how a proficient Putnam County wills attorney at The Law Office of Andres D. Gil, PLLC can help make this possible.
Why is it in my best interest to amend my will?
It is a common rule of thumb to amend your will whenever you undergo a significant life event. Also, you must consider making changes if you ever make an unfortunate discovery about your appointed executor, designated beneficiaries, or both. Without further ado, it is in your best interest to modify your will under any of the following circumstances:
- You undergo any of the following significant life changes:
- You experience a rapid decline in health, which requires more funds from your will than initially anticipated.
- You sell one property and permanently move to another one, which must be added to your will.
- You make any of the following unfortunate discoveries about your appointed executor:
- You discover that your executor can no longer be trusted, which prompts your appointment of another individual(s).
- You discover that your executor has sadly passed on, which prompts your appointment of another individual(s).
- You make any of the following unfortunate discoveries about your designated beneficiaries:
- You discover that a beneficiary is financially irresponsible, which demands more parameters surrounding their inheritance.
- You discover that your spouse (i.e., a beneficiary) wants a divorce, which calls for their removal from your will.
Is it possible for my will to be amended after my lifetime?
Likely one of your initial attractions to a will is that it gave you control over how, when, and to whom your estate would be administered when you were no longer around to have a say yourself. With this, you may rest assured knowing that it is rather difficult and unheard of for your will to be amended after your passing.
However, you must be aware of the rare occurrence that your beneficiaries band together to change the effect of your will. Or, that your will is changed by a New York surrogate’s court’s order. For example, your beneficiaries may voluntarily and collectively agree for their shares to be split more evenly. At the same time, a court may declare your will is invalid and unenforceable. It may instead reference state intestacy laws.
When handling an urgent matter like this one, you must drop everything and call a talented Putnam County estate planning attorney. Our team at The Law Office of Andres D. Gil, PLLC can help you pick up the pieces.