When Should You Update Your Will?
Wills and testaments are important documents that dictate what will happen to your property and assets after you pass away. If you die without an effective estate plan, your assets may have to undergo a lengthy probate process before they can be distributed to your surviving heirs - and even then, you can't be sure that they will be divided according to your wishes. Establishing a will ensures your assets will pass in accordance with your wishes. Of course, wills are not passive documents that can be written and then forgotten. There are several common life occurrences that can be cause to update your will. Today, the team at the Law Offices of Phillips, McElyea, Carpenter, & Welch, P.C. are here to help examine a few of them. 5 Reasons To Update Your Will 1. Getting Married Or Divorced. Chances are your marital status will greatly impact whom you would like to inherit your assets. If you are single with children, you may wish your assets to be passed direc...