When Should You Review Your Will?
Drafting a will is a very responsible thing to do and can ensure your last wishes are fulfilled and that your loved ones are taken care of after you pass away. Once you have created a will, you may simply leave it in a safe or another secure area and not think of it again. This is a mistake. Last will and testaments require periodic review to make sure that it still reflects your current situation. So, when should you review your will? Our wills lawyer explains below.
Family Changes
The status of your family may change many times during your lifetime. People may get married or divorced, pass away, become disabled, or you may welcome new family members. Any time you lose someone in the family, or a new relationship is formed, you should review your will. For example, if you give birth to a child, you will likely want to change your will to include them in it. Or, if you get a divorce, you likely want to remove your spouse from your will. Any change to your family status likely requires a change to your will.
Changes in Your Financial Situation
Your financial situation may change after you have drafted your will. For example, you may receive a large inheritance of your own. This will likely change your financial situation and you should change your will to reflect this change.
Changes in Owned Property
You may acquire new property during your lifetime that you want to leave to your beneficiaries. For example, you may start a new business at some point and want to make sure a family member takes it over if you pass away. You will need to change your will to reflect this or the state will determine what happens to the property after you pass away.
You Move Out of the State
Different states have different laws regarding last will and testaments. If you draft your will in Florida and then leave the state, the document may not be valid in the state you are moving to. This could leave your beneficiaries unprotected. After you move, meet with a lawyer in your current state to ensure your new will complies with the law and offers the protection you need it to.
Every Three to Five Years
Even if there are no major life changes, you should still review your will every three to five years. An attorney can advise on whether there have been any changes to the law that affect your current will and that may deem it unenforceable. Your current will may also include provisions that are no longer appropriate for your situation.
Our Wills Lawyer in Tampa Can Make the Necessary Changes
If you need to review your will or make changes to the current version, you need legal advice. At Messina Law Group, P.A. our Tampa wills lawyer can review your will with you and make the changes you need to ensure you and your heirs are protected. Call us now at (813) 492-7798 or contact us online to request a consultation and to get the help you need. We also have offices in New Port Richey OR Tampa, Wesley Chapel, and Dunedin.
