When Should You Change Your Will?

You should always review and, where applicable, change your Will after any material change of circumstances relating to your family status (i.e., marriage, divorce, birth or adoption of a child, etc.). For example, most state`s laws presume that if your Will was prepared before you got married, that you simply forgot to include your spouse. If you die before changing your Will, your spouse would be awarded the share he/she would have received had you died intestate (without a Will) because by law your spouse is considered a pretermited heir. This could have a terrible and unexpected effect if, for example, you intended to leave your estate to a friend or relative who needed the monies or to your favorite charity because you and your spouse were already well off. If you die without changing your Will, your spouse would receive all of your property and the intended beneficiary none.

Other Wills FAQs

Q: What Is A Will?
A: A Will is a written instrument containing directions for how the property of the person making the Will (called the testator) shall be divided on his or her death. … More
Q: If I Set Up A Living Trust, Do I Still Need A Will?
A: Yes. Your Will serves as a back up for assets that you either don`t or are not able to transfer to your Living Trust. Any asset not transferred to the Trust will not … More
Q: If I Set Up A Living Trust, Do I Still Need A Will?
A: Yes. Your Will serves as a back up for assets that you either don`t or are not able to transfer to your Living Trust. Any asset not transferred to the Trust will not … More
Q: What Are Some Of The Disadvantages Of Using Preprinted Will Forms?
A: Preprinted will forms usually do not fulfill the needs of the person writing the will. Also, if part of the form is preprinted, part of it is typed and another part of … More
Q: What Are Some Guidelines In Writing Up A Will?
A: The following are some guidelines in writing up a will. The first one is to try to avoid using preprinted forms. The second one is to use the same typewriter and … More
Q: Who Can Prepare A Will?
A: Anyone of sound mind and body can prepare a Will. This generally means someone who is an adultover the age of eighteen or the age of majority of the state where … More
Q: What Happens If A Person Dies Without A Will?
A: If a person dies without a Will, he/she will be considered to have died intestate. In this case, property will be distributed by the states laws. Often, the surviving … More
Q: What Happens If A Person Dies With A Will?
A: In general, after the testator (the person with the Will) dies, the person named in the Will to carry out its terms (an executor or personal representative) files the … More
Q: What Is An Executor?
A: An executor is the person who makes a list of all the assets and debts of the estate and seeks to carry down the directives of the Will.
Q: Do Executors Get Paid?
A: Usually executors are paid according to state laws that provide for commissions depending on the size of the estate. However, they may be paid an amount based on the … More