Having a will helps ensure that your family can honor your wishes after you die. As life circumstances change, however, you should review and update your will periodically.
Explore these common situations in which you should potentially revise your estate plan, including your will.
Birth or adoption of a child
Over the years, your family may welcome many new members. Whether you have young children or your grown children have given you grandchildren, you should change your will as desired to include all your heirs.
Conversely, if you have named a beneficiary who precedes you in death, you must also update your will accordingly.
Marriage or divorce
When a marriage ends, your former spouse could inherit your assets if you do not update your estate plan. You should also change your will to add your new spouse if you marry for the first time or remarry after a divorce.
If you have grown children, you may also want to update the terms of your will if your child gets married or divorced.
State estate planning laws affect the validity of your will. If you leave Florida or made your will in a different state before moving here, you may need to revise your estate plan. You may also want to check with your attorney periodically about changes in state laws that could impact the terms of your will.
Even if you have not experienced any of these life events, set an annual reminder to read over your will. You will have peace of mind knowing that this important document reflects your current wishes and circumstances.