| One of the most important parts of estate planning | | | | was drawn before 1982 and contains limited marital |
| is ensure that you update your will to ensure it | | | | deduction clause.o You want to change the amounts |
| shows what your current goals and personal situation | | | | that each beneficiary will receive.o You want to |
| are. There could be events in your life like divorce, | | | | change the type of property that each beneficiary |
| marriage or birth of child which could necessitate a | | | | will receive.o You want to add or remove a |
| change or update in your will. | | | | beneficiary.o When your marital status changes, you |
| The good thing about a will is that it is revocable and | | | | should update your will.o Since the last review, there |
| this allows you to do as many changes as you want | | | | has been birth or adoption of children or |
| and when you want. Changes in a will are done by | | | | grandchildren.o Your health has changed since the last |
| means of a codicil, which is a legal document just like | | | | review of the will was performed.o The value of |
| a will and is attached to the original copy of the will. | | | | your estate has changed.o One or more assets of |
| It allows a person to execute minor changes without | | | | your estate has appreciated or depreciated in value |
| incurring to much cost. | | | | since the last review.o You want to move to another |
| Here is a checklist with some situations which are | | | | state.o You have managed to acquire property in |
| indicators of when it is time to update your will.o You | | | | another state since the last review of the will.o |
| need to update your will if it has not been reviewed | | | | There have been major tax law changes since the |
| by an attorney in the last 12 months.o You want to | | | | last review of your will.o You want to add, change or |
| change one or more beneficiaries.o In case your will | | | | delete an executor or a trustee since the last review. |