When should I rewrite my Will?

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As we know the importance and benefit to have a will, let us zoom into the section of rewriting a will. Some of the reasons that we need to rewrite a will include the following events:

Marriage. You will want to include your new spouse in your will. Besides, making a new will is also a good idea for same-sex married couples. Better to be safe and revise your will to include your spouse in a same-sex marriage.

Divorce. This is an important reason to revise a will or make a new will. Your last will is invalid if it gives part or all of your estate to your former spouse. however, to prevent dispute, please do a rewrite. 

A new relationship where there is no marriage. If you were to die without including your domestic partner in your will, your partner will not inherit anything. You can amend a will so that your partner is included in your estate plan. Both of you should consider updating your wills.

A new baby. It’s important to update a will upon the birth or adoption of a new baby. You may want the child to inherit a certain percentage of your estate. Additionally, you can name the guardians for your child in a new will.

Stepchildren. Stepchildren usually do not have inheritance rights. To ensure they receive a portion of your estate, make a new will to include them.

Death of a child or spouse. If one of your heirs predeceases you, update your will to provide for different beneficiaries or for a different percentage of the estate to surviving heirs.

Adding a new heir. If you want to add a new heir such as a grandchild or a favorite niece, you need to change your will.

A change of heart about heirs. If you decide to change your heir(s), you need a new will.

Change in value of the estate. If you get a new property, obtain more assets, or lose property or assets, consider revising your will.

Leaving assets to charity. If you decide to leave all or part of your estate to charity, change your will to reflect that intent.

Changing guardians. If you decide to change guardians, you need to update your will.

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