If you already have a will, and have decided you need an update, make sure to write out your comments and questions on separate paper. Don't write on your original document! Writing on a will invalidates it! It is always best to keep your original document clean and unaltered. Keep it away from stains and moisture and don't unstaple the pages. If you have a reason to make a change in your … [Read more...] about Don’t Write on Your Original Will!
"Beneficiary designations" transfer property to beneficiaries after the owner is deceased. They are used for bank accounts, investments, insurance policies and the like. Often people fill them out once, then forget about them. They may not update them for years, or ever. However, life goes on. Divorce, death of a beneficiary, estrangement of family members, children growing up, aging of … [Read more...] about Why Beneficiary Designations are important
We always tell people to consider updating their will if one of the “major players” dies, becomes incapacitated or estranged. In other words, if a named beneficiary (someone who is inheriting), an executor (person who will manage the distribution of the estate) or a trustee (person who you have named to manage a trust) cannot do whatever it is you anticipated them doing (whether it is inheriting … [Read more...] about When to Update Your Will