National Society of the Daughters of the American Revolution

17 Reasons to Update Will

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Events That Can Affect Your Plans Professionals advise that you review your will every few years and more often if situations such as the following five have occurred since you last updated your will. 1. Family changes. If you have had any changes in your family situation, you will probably need to update your will. Circumstances such as marriage, death, birth, adoption, and a falling out with a relative or close friend may affect how your estate will be distributed, who should act as guardian for your dependents and who should be named as executor of your estate. 2. Relocation. The laws among the states vary. Moving to a new state or purchasing property in another state can affect your estate plan and how property in that state will be taxed and distributed. 3. Estate value. When you made your will, your assets may have been relatively modest. Now the value may be larger and your will no longer reflects how you would like your estate divided. 4. Tax laws. Federal and state legislatures are continually tinkering with estate tax laws. An old estate plan may fail to take advantage of strategies that will minimize taxes. 5. Benevolent desires. If you have felt a connection to a particular cause or organization, you may want a charity, such as NSDAR, to benefit from a gift in your estate. Look at the Positive Side If you need to make a will—or revise an old will—here are some actions that can be accomplished with your will. 17 Reasons to Update Your Will Your Guide to When and How to Change Your Will You have a will, so you can rest easy, right? Not necessarily. If your will is outdated, it can actually cause more harm than good. Even though it can provide for some contingencies, an old will cannot cover every change that may have occurred since it was first drawn. Here are 17 reasons to update your will. Call Us Today (800) 449-1776 Visit Our Website

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