I will be spending time with my family around the holidays and I want to talk to them about my estate plan. I haven’t updated it in years, and now my kids are grown. How do I fix this? Do I modify it? Do I throw out my original Will?
Willing to Plan
It is always a good idea to look at your estate plan every two to three years, or in light of any major life change, or event. If you have not modified it in quite some time, especially if you drafted it when your children were young, you may need to make some major changes to it, including but not limited to removing any testamentary trusts for your children. You have a couple options when modifying your estate plan. Minor changes are usually implemented via a codicil, which you can think of as an amendment to your Will. However, for any major changes, or a complete overhaul, we generally recommend drafting a new Will and, once your new Will is fully executed, destroying your prior Will. It is strongly recommended that you never have two “originals” of your Will, and any prior versions should be destroyed.
If you have additional questions, contact Wolf & Shore Law Group. We are here to make your estate planning matter easier, not harder. Ever argue with a woman? Let Wolf & Shore Law Group go to work for you. Call us at 203.745.3151 or email us at email@example.com.
Very Truly Yours,
Wolf & Shore Law Group
*The situations represented in our Dear Attorneys column are entirely fictional and any resemblance to a specific case is unintentional. We cannot, and will not, offer legal advice to anyone who is not a client. However, if you do have questions or concerns, you should contact an attorney at your convenience.