Congratulations, you have a will in place! If you already have a legal will in place, then you have taken an important step in protecting your family! No one likes to think about their own death, but having a will in place, or a living trust, will help ensure your assets are quickly transferred to your loved ones after your death. But keep mind when there’s a change in the family it can be especially important to update your will. For those who have had recent changes, it is important to understand when and how wills can updated in order to accommodate for these events.

The Importance of Estate Planning

Those first few months following the death of a loved one are difficult for every family, but having to deal with a myriad of legal issues can make this time even more confusing. Those who fail to establish a legal will could put their surviving family members in a tough situation. At its core, estate planning is designed to streamline this process and get everything in order before problems arise. Anyone with major assets in their name, as well as those who have other parties financially dependent on them, should have a will in place.

Updating Wills

When any major changes take place with your family, personal relationships, or your finances, it can quickly outdate your will. While there is still the possibility that things can get cleared up in probate, it can take quite a bit of time and money. Even worse, it could lead to issues with your family and loved ones being unsure of exactly where you would have liked your assets to go. Everyone should update their wills immediately following a new marriage, a divorce or, often, even a separation, and, sometimes, the birth of children or grandchildren. If your assets have recently changed or a family member has gone through a major life event such as graduating college, then it may be time to revisit your will as well.

Don’t Stress Over Your Family’s Future

The team here at the Law Office of Hickman Menashe, P.S. understands just how confusing estate planning can be for those who are unaccustomed to it. This is why we take the time to help our clients understand the process of estate planning and drafting a will. We usually do that by billing a flat fee, where clients know in advance of the work being done how they will be billed. Anyone who would like to explore their options for creating or updating a will can call us today and take control of their finances. Contact our firm today to get started!

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