Top 4 Reasons to Rewrite Your Will

New York State Wills and Trusts Lawyer - Lamkin Elder LawWhile you may be aware of the importance of estate planning, preparing a last will and testament, establishing trust, and having other advanced directives, when did you last update your will? Do you review your will and your trusts regularly? Have you had any major life changes since your will was originally prepared or last updated?

Keeping your will up-to-date is extremely important not only to help you reach your estate planning objectives, but for the future well-being of your family and other beneficiaries. If you have not reviewed your will recently, these are four of the main reasons you should consider doing so right now:

1. You Are Getting Married

Getting married is one of the biggest decisions a person will make during his or her life. Your will should include your new spouse and his or her future needs, as well as your own. Getting married is an ideal time to rewrite your will.

2. You Bought a New House

Making the decision to buy a new house is an important decision. That being said, a new home can add a substantial asset to your estate. A new home purchase is a long-term investment you will want to protect both now and for your beneficiaries. Don’t delay on adjusting your estate planning following a new home purchase. This way your property will be protected and covered under the conditions of your will.

3. You Are Having Your First Child

Becoming a parent for the first time is a joyful occasion; however, with the joy comes many legal and financial responsibilities. While it will be your job to provide and care for your child as he or she grows, you also need to ensure that your child will be taken care of in case of an untimely death. If tragedy struck, you would want to have your child’s financial future secured. You would also want to ensure that guardianship is assigned so that your child is cared for by the person you feel best suited to the task.

4. You Just Received a Life-Threatening Diagnosis

Even though we all know we’re going to die one day, people don’t like to dwell on their own mortality. That all changes though when you receive a life-threatening diagnosis. Finding out from your doctor that you have an illness or medical condition which will lead to death far sooner than you may have hoped is extremely sobering. At a time like this a person should review and update his or her will. Take the time to make sure your affairs are in order for the benefit of those you love.

In truth, rewriting your will should be done any time major changes in your life occur. Whether you experience one of the above, you are going through a divorce, you are about to welcome your first grandchild, your financial situation has significantly improved, you recently sold or purchased new assets, or you simply changed your mind about beneficiaries, talk to a lawyer about rewriting your will. When the time comes, you and your loved ones will be glad you did.

Experienced Wills and Trusts Lawyer in New York State

If you have made any major life changes in recent months, or your outlook on life and what the future may hold has changed, now is the time to rewrite your will. With the help of an experienced lawyer from the Law Office of Andrew M. Lamkin, P.C., changes and adjustments to wills and trusts can be accomplished with ease. Our firm has years of estate law experience and we are committed to doing all we can to help our clients achieve their estate planning goals.

To get started with rewriting your will, call our firm and schedule a free consultation with a New York State estate planning lawyer today. Protecting your future begins now!

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