It’s easy to put off estate planning, especially if you’re relatively young and healthy. However, life is unpredictable, and it’s wise to prepare for the worst while hoping for the best. If you have yet to write a will—or if it's been a while since you updated this essential document—do so as soon as possible, especially if any of the following situations apply.

When Should You Draft or Update a Will?

1. Getting Married

After getting married, you probably want to ensure your spouse is taken care of should anything happen to you. To do this, draft a will and review the arrangements periodically. It may be necessary to update the document every time your family dynamic changes, such as having children, getting divorced, and getting remarried.

2. Acquiring a Major Asset

Whether you bought a home or received a sizable inheritance, include the asset in your estate plans. Should you pass away before creating a will, the laws of intestate succession will determine how the asset is distributed, and such laws don’t take into account complicated family dynamics.

3. Starting a Business

If you start a small business, what might happen to it in the event of your untimely death? Whether you want it to remain operational, pass down to your dependents, or be liquidated, you need a business succession plan. If you have any partners, ensure your estate plan regarding the business corresponds with their own.

For help creating comprehensive and legally binding estate planning documents, turn to Katzman, Logan, Halper and Bennett in Cincinnati, OH. This practice is proud to help clients implement arrangements that will protect their loved ones in all eventualities. Backed by nearly a century of experience, they're equipped to handle a broad range of legal needs, from filing personal injury claims to resolving business law disputes. To schedule a consultation to discuss your will, call (513) 793-4400. Explore their practice areas online.