When and How to Update Your Will
Your will reflects the time when it was created. Many people intend to update their wills but often fail to do so. You can always change your will by adding a codicil (an amendment), but how do you know when to change it?
Here are some circumstances that make it vital to update your will:
- You want to name a different personal representative, trustee or guardian.
- Your estate has increased or decreased significantly.
- You've moved to another state.
- Your situation or a beneficiary’s situation has changed because of marriage, divorce, birth, adoption or death.
- Tax laws have changed.
- You want to include a charitable gift in your will. If you wish to remember The Hunger Project, consider leaving us a percentage of your estate so your gift will remain proportionate to your estate size, no matter how it fluctuates over the years.
Step 1: Obtain a copy of your current will.
Step 2: Mark the necessary changes.
Step 3: Meet with your estate planning attorney.
Step 4: Discuss changes with us if they will affect The Hunger Project.
Copyright © The Stelter Company, All rights reserved.
The information on this website is not intended as legal or tax advice. For legal or tax advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes apply to federal taxes only. State income/estate taxes or state law may impact your results.
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