When to Update Your Sanibel Will
You have recently made the good decision to go see an estate planning lawyer to get your will done. You outlined all of your final requests, and your attorney put in plenty of clauses and provisions that will make sure that your estate is handled just as want it. Now you are done, right? No, you are not. There are many reasons why your will should be reviewed and updated on an annual basis.
Your Marriage Status
The state of Florida takes your marriage status very seriously. When that status changes, it is time to update your will. You will need to discuss with your attorney how you want your will redone in regards to your ex-spouse and your current spouse.
Children
Sanibel is a great place to raise children, and that fact is accented by the large community of families that populate the area. For some people, their current family represents their second or even third marriage. If you have children from a previous relationship, then you will need to update your will to reflect how you want your children taken care of after you have passed on. This is also true if you had the good fortune of expanding your current family by having a new child.
New Wealth
When you first made up your will, your financial situation was different than it is now. A few years from now, your financial situation will more than likely change again. It is important to update your will to make sure that the assets you are giving away exist, and that you account for any new wealth you have accumulated as well.
Change in Life Choices
If you had a life-changing event that has altered your priorities, then you need to address that situation in your will. You do not want to pass away with a will that expresses the way you used to feel about life and the world around you.
Change in Beneficiaries
As the years go by, the beneficiaries you have named in your will might have passed away or fallen out of your favor. A growing family means that you have new beneficiaries to consider when it comes to the distribution of your assets. When there is a change in your beneficiaries, it is time to update your will.
There are many life events that occur over the course of the years that would necessitate changes in your will. Our experienced estate planning attorneys are here to help you navigate those changes and make sure that your will is always up-to-date. We recommend an annual appointment with one of our caring professionals to review your life and make sure your current situation is accurately represented in your will.