Getting an early start on estate planning is becoming increasingly important in today’s world. However, there are many different considerations that you’ll need to keep in mind when writing up these legal documents. If you have limited knowledge of estate law, there are some things that you might forget about. For example, did you consider if a beneficiary on your will changes their name in the future? If the answer is no, there’s no need to worry because our knowledgeable law firm has all the answers you’ll need. Continue reading this blog to learn more about this, or reach out to a Rockland County Will Attorney for individualized legal counseling.
IS A WILL STILL VALID IF A BENEFICIARY CHANGES THEIR NAME?
This depends mainly on how you specify the beneficiary in your will. The best way to ensure your will remains valid is by detailing each beneficiary’s relationship when you list them in the document. For example, let’s say a woman named Joan Smith wants to name her daughter Jess as her sole beneficiary for her estate, and she has no other children. Joan would have to name her as “my only child, Jess Smith” in the will to ensure her daughter will receive everything she’s entitled to. This is because Joan has no other children so even if Jess changes her name, there is no doubt that the estate was intended for her.
However, some people forget to specify a beneficiary’s relationship to them in their will. So if Joan doesn’t add that Jess is her sole child in her will, the will could become invalid if Jess changes her name. In order for a beneficiary to receive a portion of the estate as designated by the will, the legal document needs to make it undeniably clear it’s referring to that person. If it’s not completely clear, the will might need to be altered.
SHOULD I HIRE AN ESTATE LAWYER?
If you are able to, you can most likely benefit greatly from hiring an estate lawyer. It could be helpful to have a professional who can help you create valid legal documents in your best interests. The right lawyer will have extensive knowledge and useful skills to ensure you avoid the most common mistakes. If you are concerned about your estate plan, you can rest easy knowing a lawyer can answer any of your questions about the legal process.
If you’re just starting your estate plan in New York, you deserve a dedicated attorney who can guide you through your legal proceedings. Thankfully, the Lauterbach Law Firm is on your side every step of the way! Contact our highly experienced team today for an initial consultation.