04/26/2018










Is It Time for You to Review Your Will?

Many people believe that once they have executed their Will, they need give it no further consideration. Nothing could be further from the truth. People need to make sure their Wills are current and relevant to the circumstances of their lives as those circumstances change. People need to be active participants in this process as well as active advocates to meet their desired goals.

Life Changes that Require a Review of Your Will

In determining changes in life that point toward a Will review, you need to consider not just your own life, but the lives of your children and loved ones. Most people realize that marrying would be a trigger for reviewing your Will, but they fail to consider that a marriage of their children or birth of grandchildren should act as triggers as well.

An example would be that you have three children and your Will gives all of your assets to the survivors of the three in equal shares. Then your son has a child of his own. Your Will would leave nothing for that grandchild if something happened to your son. There are a variety of these sorts of situations that must be considered to make certain your Will serves your purposes.

Perhaps you have moved to a different state that has different laws concerning Wills, you or your loved ones’ marital status has changed, you have another child, there is a death among your loved ones, you have a desire to change your heirs, or you have disposed of or obtained major assets. All of these should result in a review of your Will. The fact is, estate laws in New York state change regularly, as do tax laws concerning estates. Therefore, even without life changes, you should do regular reviews of your Will to make certain it is current with the state of the law.

Make Certain Your Goals Will Be Met

The most important point to remember is that people want their assets to be distributed in accordance with the plan they have made, and that plan will change as life circumstances change for them and their loved ones. If people fail to act when these changes occur, and fail to review and update their Will, assets may not transfer in accordance with the intended plan. Most people have likely not worked hard their lifetimes to see their plans fail.

Contact Us

The death of a family member causes stress and strife in all families. No one can change that. What can be done is to have a current, up to date Will that will help in moving plans forward for loved ones in the fashion you desired. There is a great benefit in having an experienced attorney that knows how to work with you in planning your Estate and meeting your intended goals effectively. Andrew Lamkin has this experience and is ready to help. Contact the Law Office of Andrew M. Lamkin by calling 516-615-0625 for a free consultation to discuss your needs.



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