When should you revisit your Will? For many of us writing a Will is on our to do list. However getting that after death pre plan in place is often a victim of procrastination. So when you do get your Will written it is quite a satisfying accomplishment. Should you then stash it away in a safe or in a file and never pull it out again? When should you revisit your Will? Today we will touch on a few of the life moments that you will want to dust it off and make updates.
Having a pre plan including a Will is so important and becomes one of the best gifts you can leave behind for your loved ones. Not only does it take stress off of their shoulders it assures that your desires will be honored.
Life Is Unpredictable And Change Occurs For All Of Us. If Any Of These Changes Occur You Should Revisit Your Will
- Death of spouse or other beneficiary
- Marriages or divorces
When you update your Will changes to the following should also be updated; legal documents, retirement plans, IRAs, insurance, and beneficiaries.
What If I Don’t Revisit My Will?
As life changes it is important to keep your will updated so that your desires will be carried out.
In the book, “You Only Die Once”, the author tells a story of a woman who married an 80 year old widowed neighbor. He promised that she could live out the rest of her days in his farm house. The problem is that he died before he changed his Will. His son was still written as the sole heir of the farm. The son never approved of the relationship and the woman was required to leave the farm.
This story is a perfect example of how things can go wrong and help remind you to revisit your Will with these big life changes. Small changes can make a big difference in the end. You can amend the Will inexpensively through a legal attachment called a codicil.
Pre planning is all about you taking responsibility for the legacy you will leave behind. Without a pre plan decisions are left up to family or friends. While assuming you have a good relationship, they will do the best they can with the energy they have. The truth is that revisiting and updating your Will and pre plan when needed will allow them to grieve you without additional stress. You will go on in peace knowing that what you leave for your loved ones will live on through them.