How Often Should You Update Your Will?
Maryland Attorney Wills, Trusts, and Estate Planning
Creating a will and estate plan is great. The next step is keeping it up to date as major life events take place. Things like buying or selling large assets, having children, adopting children, marriages, divorces, and deaths are all great times to update your will.
If you need to update your will, a trust, or estate plan, contact the Law Offices of Gary W. Desper. I can assist you with any updates you may want to make, even if we didn't prepare the original documents. I take a personal interest in each client and can update the documents you need to protect your family for an affordable rate. Experienced attorney located in Westminster, Carroll County, Maryland.
Some key reasons to update your will or estate plan:
Once you have a will, you need to review it periodically and may need to make updates for major life events. Here is an example of showing some of the key life events that may occur.
- Death of a spouse or child
- Marriage (yourself, an ex-spouse, or your children)
- Divorce (yourself or your child's)
- Birth or adoption of children or grandchildren
- Buying or selling large assets such as a home, business, aircraft, boats
- Large investments, stocks, bonds, insurance policies
- Major enhancements or selling collectibles (coins, jewelry, artwork, cars, etc)
- Moving to another state or country
- Change in guardians for minors, disabled adults, elderly, and pets previously named in your will
- Adjusting the will as your minor children become adults and start families of their own
- Removing others from your will in the case of death or divorce or major illness (for example, if Aunt Sarah was named as guardian for your minor children and Aunt Sarah now has Parkinson Disease or Multiple Sclerosis, you should consider naming someone else in their place.)
Make sure the courts know who you want to raise your children. If you need to create a will, prepare an estate plan, or update an existing will, contact the Law Offices of Gary W. Desper. Our offices are located in Carroll County, MD.
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