Once you have your will set, you should be prepared to review it at least annually. There is a chance that you will find things that need to be changed when you look over everything. Changing your will isn’t difficult to do, but you must ensure that it is done properly to avoid problems in the future.
People change a will for many different circumstances. In some instances, there is a positive change in the person’s life that requires this. Getting married or having another child can lead to the need for an updated will. There are also some negative events, such as a divorce or an heir’s death, that might require you to change the will.
As you are going through the will you currently have, jot down notes about what you want to change. In most cases, the easiest way to change your will is to just write out a new one. Making notes about what you want to change helps to ensure that you don’t miss any important points that would require you to rewrite the will again.
When you have the new will completed, destroy the old will. Having more than one will can add to confusion when you pass away. It might also lead to having someone challenge the correct will based off the information in the older one.
It is also a good idea to review other estate plan documents to ensure that you have them all set how you need. Check the payable on death designations on your financial accounts at this time to ensure you have the appropriate person named on those.