One of the most important questions clients have is, “When should I change my will?” Several life changes necessitate updating your will. When the following significant life changes occur in your life, and it is time to update your will, living will, trust, and other important estate planning instruments to reflect your current situation. Keeping your essential estate planning documents updated benefits you in many ways, and Dawes Legal is here to help.
Here are a few significant life events that you should discuss with Dawes Legal to update your will and other estate plan instruments:
- Health Issues: If you are suffering any serious medical conditions, it is important to prepare and update important medical-legal documents such as a healthcare directive. The best time to update or create these legal documents is before you are in the hospital.
- Financial Changes: Major financial changes in your life should be reflected in your estate plan to ensure that all tax breaks and advantages are implemented.
- Marriage/Divorce: If you have been married or if you got a divorce, you should meet with your estate planning attorney to determine what alterations to your will and estate plan must be updated. It is also crucial to update your estate plan documents if you are newly married and have a prenuptial agreement. Other important documents may also include life insurance, bank accounts, Power of Attorney, retirement documents, and other legal documents.
- Children: If your life change is the birth of a new child, adoption of a child, or new stepchildren after a marriage updating your will to provide for the children in your life is essential.
At Dawes Legal, LLC, we understand that your life is very busy, and updating your estate plan documents and will is not at the top of your “to do” list. However, updating your most important legal documents should not be ignored. Let Dawes Legal help you check this major small “to do” off your list. Give Dawes Legal a call at (614) 733-9999.