Law Offices of Connie Yi, PC - estate planning
Tell Us About Your Case

For the safety of our community, clients and staff, we have suspended all in-person meeting effective March 17, 2020. All consultation meetings will be via Phone or Zoom Video Conferencing. Please contact us at 925-484-0888 or email us directly at [email protected] to schedule the consultation.

Bay Area Estate And Tax Planning Law Firm
Estate Planning
Trust Administration and probate

Is it time to review and update your will?

| Dec 4, 2017 | Estate Planning |

You’ve already taken the step of creating a will, which sets you apart from a surprising number of adults throughout the country. If you only recently created your will and have yet to experience any major life changes, you probably have no great need to review it.

However, if your will is more than five years old, or if it’s been more than five years since you reviewed it, then you should make time to sit down with an experienced estate planning attorney and go over the document. Even if you do not experience any major life changes over a period of five years, estate planning laws may change at the state or federal level, necessitating some adjustment.

If you choose to leave your will alone without updating when some life change occurs, you may create contradictions and omissions that your family and beneficiaries must navigate after you pass away. Few things create conflicts throughout a family like a will that creates more questions than it answers.

Reasons to update a will

Depending on the nature of your estate and the complexity of your wishes, your will may involve many different instructions regarding various beneficiaries and assets. If one of these changes after you create your will, you should amend the will to reflect this change.

For instance, if you create a will when you and your spouse have your first child and never update the will to include two additional children as your family grows, your children may find themselves arguing over your property when you pass away. Updating your will to reflect your changing family could easily avoid this unfortunate result.

These significant changes may include

  • your own marriage or divorce
  • marriage or divorce of a beneficiary
  • birth, adoption or addition of a beneficiary
  • changes in your wishes about your estate or beneficiaries
  • death of a beneficiary
  • significant gains or losses in your estate

Help keep your wishes clear

Establishing your wishes clearly in a will and updating the document regularly is one of the best ways that you can care for your loved ones. When your time comes, your beneficiaries already face the difficult process of dealing with losing you. There is no reason to encourage frustrations and conflicts among your beneficiaries. Be sure to prioritize reviewing and updating your will to ensure that your loved ones understand the full scope of your wishes to distribute your estate and establish your legacy.


FindLaw Network

Recent Blog Post

Is estate planning necessary for young people?

Misconceptions exist about the relationship between age and estate planning. Yes, older people may prioritize estate planning for reasons related to advancing age and health concerns. That does not mean only older California residents benefit from the process. Young...

What are the responsibilities of a fiduciary?

Residents of California may want to learn more about the role of the fiduciary and their responsibilities. Because fiduciary duty may be a requirement among certain professions, clients and professionals should know more about what this is. The meaning of fiduciary...

5 factors to consider when choosing a guardian

For parents, one of the biggest reasons they decide to create an estate plan is to ensure their child will be cared for no matter what. It isn’t easy to think about a tragedy where a child may lose both their parents before they turn 18, but parents have to plan for...

View More Blog Posts