Are you done with estate planning once you create a will?

On Behalf of | Nov 8, 2022 | Estate Planning

A will is the backbone of a good estate plan, but creating it does not mean you are finished. Your estate plan is not final until you die.

It should also change and adjust as your life changes. You cannot create this document and then walk away and never look at it again.

Reasons for changes

Depending on when you create your will, you may experience many life events after its creation. You could have marriages, divorces, children, asset changes and a multitude of other things happen that will not align with the original draft of your will. It is essential that when something changes in your life, it should also change in your will. The last thing you want is someone no longer in your life to receive everything from your estate when you die because you forgot to change your will.

Steps for changes

Florida requires you to follow certain steps to create a legally binding will. When you make changes, you also have to follow certain steps to validate the changes you make. You must either create a new will or add a codicil to alter anything in the original document. If you do not do it this way, you would invalidate your will or sections of the will and your new wishes will not stand up in probate.

If you create a new will, make sure to destroy the old one. Also, ensure you have any documents notarized. Never just cross out of write on your will. Make sure all additions are on a typed document and either in a new will or in a codicil.

After you create your will, you should update it regularly to ensure it reflects your life throughout the years.