Facing mortality can be a sensitive topic, but it’s one that we all must confront eventually. That’s why it’s crucial to ensure your affairs are in order by consulting with a skilled wills attorney Nobody can escape the inevitable end. While facing your mortality can be confronting, it is a harsh reality we all must face. This is why it’s important to have your will set up by an experienced wills attorney as soon as possible.
Illnesses and accidents don’t discriminate based on age, irrespective of how young or old you may be, you should ensure that you have a will throughout all stages of your life. This is especially true if you have assets or things of sentimental value that you’d like to pass on to a relevant individual or organization. Keep in mind, that having a will is not enough. You may need to update your will, and this is where the expertise of an experienced wills attorney will come into play.
Why Would I Need To Update My Will?
Nobody can predict what will happen tomorrow, let alone in the next five to twenty years. People who may have been in your life from the start may not be there anymore. People’s circumstances are changing throughout their lives, which is why updating your will is such an important step in estate planning. You want to be certain that your will reflects your current circumstances. If something happens to you before you update your will, your assets may be distributed in ways that you would never have wanted in the present. , irrespective of what you may have wanted in the past. Other reasons to update your will include family or relationship changes, financial changes, relocation, or legal or tax-related reasons. An updated will can also ensure that there are fewer disputes between your beneficiaries..
How Can A Wills Attorney Help Me?
If you’ve realized that you may need to update your will, consulting with a wills and trusts attorney can provide personalized advice and ensure that your will is valid and effective. There are several reasons why using a qualified attorney to update your will is an essential part of estate planning.
1. Legal Expertise & Knowledge
Drafting a will requires a thorough understanding of the state’s legislation around estate planning and probate. There are state-specific laws that come into play that can affect the validity of your will. This is why it’s important to hire an attorney who is familiar with your state’s laws. Updating your will requires the same amount of consideration, a wills lawyer possesses the necessary expertise and up-to-date knowledge of relevant legal provisions to ensure that your will is valid and comprehensive. They are also able to help you understand the implications the decisions you make will have on your beneficiaries.
2. Tailored Solutions
Using an online will platform may be an easy and allegedly cost-effective way to complete a will. Keep in mind that you get what you pay for. Online wills tend to take a one-size-fits-all approach when drafting a will that should be tailored to each person’s circumstances. An experienced lawyer will ensure that they have a firm grasp of your specific situation, which includes your assets, family dynamics, and long-term goals. They are then able to work with you to tailor a will suited to your needs and objectives, ensuring that your wishes are not only accurately depicted but also upheld.
3. Preventing Mistakes or Oversights
When you’re in full control and are “compos mentis” making a small mistake or oversight can be rectified. However, if you are no longer compos mentis or if you have passed, one small mistake in your will can have significant consequences. These consequences include disputes, delays, or even unintended distribution of your assets. Having an experienced attorney handle updating your will will minimize the risk of such mistakes. Attorneys are trained to pay attention to even the most minute details, ensuring that your will will be updated and in line with applicable legislation.
4. Life Changes
As mentioned before, life can be unpredictable. You can’t know what will happen in the future. Your will should be updated to accurately reflect these changes. Events such as marriage, divorce, the birth of children or grandchildren, changes in financial status, or the acquisition of new assets all require updates to your will. A wills lawyer can help you navigate these life changes and ensure that your will remains current.
5. Tax Efficiency
When it comes to estate planning and your will, you need to be mindful of other considerations as well. This includes the tax implications associated with your will, which could potentially leave your beneficiaries in a bind. When it comes to estate law, there are guides to federal estate taxes. However, utilizing the services of a lawyer who stays informed about changes in tax laws and regulations can help you develop a tax-efficient estate plan that preserves your wealth for your beneficiaries.
6. Legal Guidance & Support
Updating a will can be emotionally challenging, especially when it comes to making decisions about the removal of certain beneficiaries, guardianship of minors, the distribution of heirlooms or keepsakes, or even details around your end-of-life care. Your legal advisor can offer guidance, clarity, and reassurance.
How Often Should I Contact My Wills Attorney?
If you have a good understanding of wills and trusts, you’ll know that you have almost everything in order. When it comes to updating your will regularly, it isn’t something you should procrastinate. By working together with your attorney, you will establish a professional relationship that should encourage a regular review and updates of your estate plan.
Your legal representative can remind you of key milestones or changes that could require you to update your will. When taking into consideration how quickly circumstances can change, it is advised to update your will approximately every two to three years or when major milestones occur.
For estate planning, there is no more important document than your will. This is why you need to enlist the services of a reputable wills and trusts attorney to handle all of your estate planning matters. A reputable attorney, such as one from Handin Law, will provide you with invaluable expertise and peace of mind knowing that your will is in capable hands.