Once you’ve written your will in Alabama, it might be tempting to think that the estate planning process is over. But in a sense, the estate planning process is actually just beginning. Over time, you’ll want to periodically review your will to ensure that your information is up to date and current. If you don’t, your family might be left with a confusing will that raises a lot of questions and creates multiple legal issues.
When should you update your will?
When it comes to the subject of wills and probate, most experts recommend updating your will after you’ve experienced a significant life change. It’s important to update your will after you get married–particularly if you’ve gotten divorced beforehand. If you don’t update your will, your spouse might not be entitled to a share of your estate after you die.
When you review your estate, make sure you check the beneficiaries on assets like savings accounts and life insurance policies. You’ll have to make your spouse the beneficiary if you want them to receive these assets after your death. Additionally, you should update your will to ensure that your spouse receives a share of your estate. Don’t assume that you can leave everything to your kids and they’ll share it with your spouse — you don’t know what’s going to happen after you’re gone.
For these reasons and more, it’s important to periodically revise your will. If you don’t, your family might have to deal with the unintended consequences.
Who can you contact for legal assistance?
You can contact an attorney for help with the estate planning process. An attorney may help you write a will that covers your entire estate, then periodically revise your will when you undergo a major life change. An attorney could also assist with other matters like selecting someone for power of attorney if you’re incapacitated.