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Also known as a last will and testament, a will is a legal document that outlines an individual’s wishes upon their death. A will serves as a fundamental component of estate planning and must meet certain requirements to be legally valid. Common aspects of a will include:
Having a will allows you to clearly list out how you would like your estate managed in the event of your death and can provide peace of mind to you and your loved ones. Aside from determining distribution of assets and guardianship of minor children, a will can help avoid family disputes and protect unmarried partners or non-traditional families. Creating a will offers you control and simplifies the process for your loved ones during a difficult time.
Wills are one of the most iconic documents associated with lawyers. An estate planning attorney can assist you in working through the process, ensuring your will is legally valid and reflects your wishes. Common considerations when creating a will can include:
Yes. As your life changes, so do potential beneficiaries and heirs. Therefore, it is crucial to keep your will up to date. If you do not keep your last will and testament current, it may not reflect your wishes. If the change is minor, your will can be updated with an amendment, also known as a codicil. However, if you have significant changes, the best approach may be revoking your will and creating a new one.
When you are ready to prepare a will, it can be helpful to have all the necessary information and documentation. Bringing all the information with you to your meeting with a wills attorney can help the process go more smoothly. Things to bring to an attorney for a will include:
It may be of some comfort to know that you can always make changes to your will. You may have a significant life event that changes your estate planning wishes, including a new marriage, the birth of a child, or the death of a loved one. Talk to your estate planning attorney about how you can make changes to your will.
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