Life is full of changes that can impact your estate plans. Whether you’re celebrating a new addition to your family, navigating a significant financial milestone, or coping with loss, keeping your will current is an important step to protect your wishes. At Artie Pennington Law Offices, PLLC, serving Kyle and Austin, TX, we help individuals and families update their estate plans to reflect life’s changes. Below, we’ll explore why revisiting your will after major life events can help you stay prepared and avoid potential complications.
Why Revisiting Your Will is Important
Your will serves as a guide for how your assets are distributed and who is responsible for handling your estate after your passing. Over time, as your personal and financial circumstances evolve, your will may no longer reflect your current situation. Outdated documents can lead to delays, misunderstandings, or even disputes during the probate process.
By addressing changes in your life, you can help minimize confusion and align your estate plan with your current priorities.
Life Events That May Require Changes to Your Will
1. Marriage or Divorce
When you marry, you may want to update your will to include your spouse. Similarly, after a divorce, you might need to remove your former spouse as a beneficiary or adjust other aspects of your estate plan. Failing to make these updates could create challenges for your loved ones.
2. Birth or Adoption of a Child
Adding a child to your family is a significant milestone. Updating your will to include provisions for their care and financial needs can be an important step to consider. Appointing a guardian and specifying how assets should be managed for minors are common updates after this type of event.
3. Loss of a Beneficiary or Executor
If a person named in your will passes away, you may need to choose a new beneficiary or executor. Keeping these roles up to date helps maintain clarity in your estate plan.
4. Major Financial Changes
Acquiring a home, starting a business, or receiving an inheritance can change the nature and scope of your estate. Adjusting your will to include these new assets may help ensure they are distributed according to your wishes.
5. Relocation to Texas or Another State
If you’ve recently moved to Texas, it’s a good idea to review your will to ensure it complies with state laws. Artie Pennington Law Offices, PLLC can help evaluate your current documents and provide recommendations based on your needs.
Steps to Updating Your Will
- Evaluate Your Current Will
Start by reviewing your existing will and identifying areas that no longer align with your situation. Note changes in beneficiaries, assets, or roles like executors. - Consult with an Attorney
Working with an estate planning attorney can help you navigate the legal requirements for updating your will. An attorney can provide guidance on drafting new provisions or revising outdated language. - Draft a Codicil or Create a New Will
Depending on the extent of the changes, you may add a codicil (an amendment to your will) or draft a new will entirely. Each option has specific requirements to meet legal standards. - Finalize and Validate the Updates
Once your updates are complete, signing the document in the presence of witnesses is required for validity under Texas law. This step helps confirm the document’s legitimacy during probate.
Common Questions About Updating a Will
How often should I update my will?
It’s a good idea to review your will regularly—every few years or after major life events. Periodic reviews can help identify any changes that may be needed.
What happens if I don’t update my will?
If your will doesn’t reflect your current wishes, there could be confusion or delays during probate. Outdated provisions may not align with your current priorities.
Do I need a lawyer to make changes to my will?
While it’s possible to make changes yourself, working with an attorney can help reduce the risk of errors or unintended consequences. An attorney can also ensure the changes comply with Texas laws.
How Artie Pennington Law Offices, PLLC Can Assist
Artie Pennington Law Offices, PLLC, located in Kyle and Austin, TX, offers guidance for individuals and families looking to update their wills. Our team works with you to address changes in your life and adjust your estate plan as needed. By keeping your will current, you can make the process smoother for your loved ones in the future.
Take the Next Step Today
Life is unpredictable, and keeping your estate plan up to date can help you prepare for whatever comes next. If you’ve experienced a major life event or it’s been several years since you last reviewed your will, now is a good time to revisit it.
Contact Artie Pennington Law Offices, PLLC, to schedule a consultation and discuss your needs. Call us at 512-596-0534 or fill out our online form to get started. Taking action today can help you feel confident about the future.
Connect with us
Contact Us
- Telephone:
- Fax:
Kyle Law Office
154 Elmhurst Drive, Suite B
Kyle, TX 78640
Austin Law Office
1250 Capital of Texas Hwy South Building 3, Suite 400
Austin, TX 78746
*By Appointment Only