As the calendar turns, many of us reflect on our priorities and make changes in our lives. Updating your will can be an important part of that reflection, helping clarify your intentions and providing guidance for loved ones.
Take action today to discuss your estate plan—contact us through our online contact form or call (704) 286-0570.
Why Updating Your Will Matters
Even if you already have a will, life changes—such as marriage, divorce, the birth of a child, or acquiring new assets—can affect your wishes. Updating your will ensures that your estate plan reflects your current circumstances and intentions.
Having a clear, current will can reduce uncertainty for your family and simplify the process of managing your estate.
Common Life Changes That May Require a Will Update
Certain events often signal the need to review your will:
- Marriage or divorce
- Birth or adoption of children or grandchildren
- Significant changes in financial status
- Relocation to a different state
- Death or incapacity of a named executor or beneficiary
By regularly reviewing these factors, you can ensure that your estate plan remains aligned with your goals.
Choosing an Executor
An executor manages your estate according to your will. Selecting the right person is key:
- Choose someone responsible and able to handle legal and financial matters.
- Consider whether they live nearby and are willing to serve.
- You can also select a professional if personal connections aren’t ideal.
Selecting the right executor helps ensure your wishes are respected and that your loved ones experience less stress.
Additional Estate Planning Considerations
A will is only one piece of your estate plan. Depending on your situation, you may also need:
- Powers of attorney for medical or financial decisions
- Trusts to manage assets for minors or special needs individuals
- Updated beneficiary designations on accounts and insurance policies
- Plans for business succession if you own a business
These tools work together to provide clarity and direction for your estate.
Steps to Updating Your Will
- Review your existing will for outdated provisions.
- Make a list of all current assets and important personal property.
- Reconfirm or update executor and guardian selections.
- Consider additional estate planning documents as needed.
- Execute a new will with the proper legal formalities.
Taking these steps ensures that your wishes are clear and legally recognized.
Frequently Asked Questions About Wills
Q: How often should I update my will?
A: Review your will whenever major life changes occur, or at least every few years, to keep it current.
Q: Can I update my will without rewriting the entire document?
A: Minor changes can often be made with a codicil, a legal amendment to your will. Significant changes may require a new document.
Q: What happens if I don’t have a will?
A: Your property may be distributed according to state law, which might not reflect your wishes. Updating your will ensures clarity and control.
Charlotte Estate Planning Attorney
Working with a Charlotte estate planning attorney can provide clarity and confidence when updating your will. Blood Law, PLLC can help review your current plan, discuss any necessary changes, and guide you through creating a will that reflects your intentions. Contact us today via our online contact form or call (704) 286-0570 to start your estate planning review.