How Can I Change My Will?
Developing an estate plan can be an effective way to distribute your assets in the event of your death and minimize the cost of the probate process. However, the concept is uncomfortable to many people who don’t like to think about themselves or a loved one passing away. As unpleasant as it may be, you should still consider executing a will because of the many advantages that option carries with it. When you die without one, the laws of the state where you’re a resident decide how to distribute your assets. You have no control over the process, which means some of your descendants may receive a share of your estate against your wishes.
Even once you’ve made the wise decision to execute a will, there are life events and other circumstances that may require you to make some modifications. It’s important to understand why you should change your will and what the procedures are for doing so.
Why Would I Want To Change My Will?
Consider your lifestyle at the time you created your will. You might have made certain assumptions at the time, but your situation may have changed significantly during the years or decades since you signed the paperwork. One of the primary purposes of your will is to distribute your assets to your loved ones and other entities, and a whole new set of circumstances may lead you to change your mind. For instance, if you were newly married and executed a set of estate planning documents with your spouse, you probably didn’t account for the children the marriage would produce. Another issue that may come up is who you name as the executor of your will. Divorce or death might lead you to want to name a different person to handle your estate.
It’s smart to revisit your will every few years and determine whether you’d like to make any changes based on life events or beneficiary status. Failing to modify it can result in distributions that you didn’t intend and are contrary to your wishes.
How Do I Change My Will?
It’s important to consult with an attorney when you’ve made the decision to change your will, as only experienced legal professionals have the knowledge of Texas laws governing estates. In general, the process involves drawing up a completely new document, where you’ll revoke certain portions of your existing will and set forth the new provisions. There will also be language stating that your new will supersedes any and all prior wills. Once you sign it and your witnesses attest that your signature is valid, your new will becomes effective.
Going through the proper procedures for changing your will is as important as executing the original document, so it’s important that you work with an experienced lawyer. The attorneys at Stockard, Johnston, Brown, Netardus & Doyle, P.C. are knowledgeable on the laws governing estates in Texas, and can help you make the intended modifications to your will. Please contact us to schedule a consultation to discuss the process and your options.
Even once you’ve made the wise decision to execute a will, there are life events and other circumstances that may require you to make some modifications. It’s important to understand why you should change your will and what the procedures are for doing so.
Why Would I Want To Change My Will?
Consider your lifestyle at the time you created your will. You might have made certain assumptions at the time, but your situation may have changed significantly during the years or decades since you signed the paperwork. One of the primary purposes of your will is to distribute your assets to your loved ones and other entities, and a whole new set of circumstances may lead you to change your mind. For instance, if you were newly married and executed a set of estate planning documents with your spouse, you probably didn’t account for the children the marriage would produce. Another issue that may come up is who you name as the executor of your will. Divorce or death might lead you to want to name a different person to handle your estate.
It’s smart to revisit your will every few years and determine whether you’d like to make any changes based on life events or beneficiary status. Failing to modify it can result in distributions that you didn’t intend and are contrary to your wishes.
How Do I Change My Will?
It’s important to consult with an attorney when you’ve made the decision to change your will, as only experienced legal professionals have the knowledge of Texas laws governing estates. In general, the process involves drawing up a completely new document, where you’ll revoke certain portions of your existing will and set forth the new provisions. There will also be language stating that your new will supersedes any and all prior wills. Once you sign it and your witnesses attest that your signature is valid, your new will becomes effective.
Going through the proper procedures for changing your will is as important as executing the original document, so it’s important that you work with an experienced lawyer. The attorneys at Stockard, Johnston, Brown, Netardus & Doyle, P.C. are knowledgeable on the laws governing estates in Texas, and can help you make the intended modifications to your will. Please contact us to schedule a consultation to discuss the process and your options.