As life goes on, people often experience a significant amount of changes. When they do, it is important that these changes are reflected in their last will and testament. It is important to know that this document is not set in stone when it is written. It is meant to be revisited and updated as people see changes in their life. Continue reading below to learn more about how this is done and contact an experienced New York estate planning attorney for assistance.
Why Would I Update a Will?
A will should be revisited about every three to five years. This ensures the changes you experience in your life are noted in this document and your wishes for your estate are not outdated. Through the years, people can experience a variety of gains or losses in their life. This may be financially or physically. People can experience financial additions or losses in their life just as they may experience the addition or loss of a life in their family. These should always be reflected in a will.
How do I Change a Will?
If you revisit your will and wish to update it, there are different options available to you. This can include the following:
- Amend a will with a codicil. People who are making minor changes to an existing will can create codicil. Simply put, this is a document that is attached to an original will. It states the changes the individual wants to make to their original plan. This can explain, modify, or revoke part of a will. When writing a codicil, it is important to be aware that it is required to follow the same execution as an original will so that it can be valid. In doing so, be sure the codicil does not cause confusion or conflict with the original will because it can cause difficulty in the long run.
- Creating a new will. For some people, it may be easier to simply revoke a previous will and draft a new one instead of creating a codicil. With accessibility to computers, it can be easier to go online and make the necessary changes to print out an entirely new will instead. This eliminates the chance of conflicts between an old will and a new codicil. However, it is important to make sure the old will is revoked so it cannot be used instead when your life is over.
Contact our Firm
The Lauterbach Law Firm is proud to serve clients throughout Rockland County who are faced with legal matters related to estate planning, real estate, foreclosure defense, landlord-tenant law, business law, and criminal defense. If you require the services of an experienced team of attorneys, contact The Lauterbach Law Firm today to schedule a consultation.