Working with attorneys to create a will is just the first step in developing an estate plan that will protect you and your loved ones. While making a will as early as possible is important, you should also review your will once a year. Additionally, there are certain life events that also require you to review and modify your will. Below, learn what situations merit having an attorney make changes to your will. 

4 Times You Should Ask Your Attorneys to Modify Your Will

1. Changing Your Relationship Status

Getting married is a time to update your will to ensure your new spouse is included. While state laws may dictate that a certain percentage of your estate goes to your spouse, you may also have specific assets that you want to leave to your spouse. Alternatively, you will want to remove your spouse as an heir or beneficiary, if you do get divorced. In that case, you may want to ask your attorneys to make your children your primary beneficiaries instead.

2. Having a Baby

When you have a baby, you will want to ensure their future needs are addressed. This means modifying your will as soon as possible. This will allow you to appoint a legal guardian for your child, set up a trust in their name, and allow you to pass on assets that hold sentimental value. Working with a lawyer skilled in both estate planning and family law will help you address these concerns more easily. Since you don’t know what the future holds, making these plans will provide you with peace of mind as a parent.

3. Buying or Inheriting Property 

At some point in your life, you may come into a piece of property that is highly valued, such as a yacht, rare artwork, or real estate. You will want to include these items in your estate plan. There may be special considerations in terms of bequeathing these items to a spouse or child, so it’s important to consult tax codes, real estate law, and other relevant regulations. In consulting your lawyer, you can explore the best methods for leaving these precious items to your loved ones.

4. Losing a Loved One

When a spouse or child passes away, it’s important to modify your will to redistribute your assets. Otherwise, your surviving family members may challenge the will, which will complicate the probate process. While a death in the family is emotionally difficult, failing to change your estate plans will create additional problems for your loved ones after you have passed away. 

Whether you need to create or modify a will, consulting attorneys with experience in a wide range of practice areas will be helpful. Privette Law Office in Willow Springs, MO, has the diverse legal experience you need to ensure your estate planning needs are met. They are also a small  firm, so you can trust that you’ll get the personal attention you need. To learn more about their practice areas, visit their website. To schedule an initial consultation, call (417) 469-3535.