Reasons to Update your Will or Trust

Once a person makes a last will or living trust, they often will put it in a safe at home or safe deposit box at the bank and forget about it. However, there are many reasons to review and update your living trust and other estate planning documents.

• The individuals you have named are deceased or unable to act.
• New people should be named in your documents (e.g. birth or adoption).
• Divorce or marriage.
• New state laws. You need to periodically check to see whether your state has enacted new laws that impact your estate planning documents. More importantly, if you move to a different state, do not assume that your documents made in your previous state conform to the requirements of your new state. Each state has its own legal requirements for making a will or trust.
• Change in guardians, personal representatives, or trustees.
• Children reach the age of eighteen.
• A substantial increase or decrease in the value of assets in your estate.
• The acquisition or removal of assets from your estate.
• The passage of time is reason enough. You should review your will, trust, and other estate planning documents every three to five years.

Contact our office to help you update your documents and ensure that your loved ones are cared for, and your current wishes are honored. We specialize in updating existing last wills, living trusts, and other estate planning documents.