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A will is an official document that allows you to state your last wishes in a legally binding way. In it, you can include your requests regarding your funeral and burial, the guardianship of your children, and the distribution of your assets. When most people hear the term “estate planning,” they think it is for individuals who own a sprawling property or have a massive art collection.

In reality, though, everyone can benefit from creating a will, regardless of their family size or financial status. If you want to ensure your affairs will be in order should you pass unexpectedly, turn to an estate planning attorney at Ng & Niebling in Honolulu, HI.

3 Scenarios in Which You Should Draft or Update Your Will

When You First Become Financially Independent

Since you can update your will at any time—and life is unpredictable—it is never too early to start estate planning. You should consider creating a will as soon as you set off on your own. This might be when you secure your first full-time job, or maybe it’s after you graduate from college. Regardless, you should draft a will as soon as possible to help minimize the burden that your family will have to bear should something happen to you.

When You Undergo a Major Life Transition

willIf you have not created a will by the time you get married, add it to your to-do list as soon as you get back from the honeymoon. Just remember to update your estate planning documents after you undergo every major life change. This might include having children, buying a house, or getting divorced.  

When You Receive an Inheritance

If you receive a fairly sizable inheritance at some point or acquire significant assets of any kind, it is essential that you create a will or add them to your current document. This will prevent disputes from arising between your surviving loved ones during the probate process.

If you need to draft a will or update your estate planning documents, turn to Ng & Niebling in Honolulu, HI. Their compassionate team will help you create a comprehensive estate plan that protects your relatives. You can learn more about their legal team by visiting the firm online. To schedule an initial consultation with an estate planning attorney, call (808) 732-7788. 

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