Estate planning is an ongoing process and it is important to keep the documents that are executed up to date with the changes in your life. One common question that we receive is whether you are allowed to make changes to your will even after it is executed. Yes, wills can be changed after they have been executed. In fact, it is a good idea to take a look at your will in the midst of major life changes to ensure that it reflects your current relationships.
When should I make changes to my will?
It is often said that change is the only constant in life. This includes changes to relationships, jobs, living arrangements, and everything else that impacts us. Any time a relationship drastically changes with a person that is in your will in either a positive or a negative way, you may want to go back to the drawing board to see whether your initial decisions are still appropriate. For example, if you and your spouse get divorced, it is smart to update your will to reflect this so they don’t end up with belongings you may no longer want them to have. With each child you have, it may be beneficial to add them to your will so you can detail exactly what you would like them to inherit.
Another situation that may lend itself to making changes to a will is if you obtain or get rid of an asset. For example, if you purchase property that you intend to keep in the family for years to come, you should have a plan for who will take ownership upon your passing. On the other hand, if you sell property, be sure to reflect that in your will.
How do I update my will?
When you decide to update your will in Pennsylvania, it will be done through a codicil. This process is similar to the process of creating your initial will, but you will be able to make amendments to the original document.
If you have questions about how you can make changes to your will, it is important to speak with an experienced estate planning attorney. Contact our firm today.
Friedman Schuman is an experienced and dedicated legal resource for clients throughout Pennsylvania. We proudly serve clients facing a wide range of legal matters. If you require the services of an effective attorney, please contact Friedman Schuman today to schedule a consultation.