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Why You Should Regularly Update or Your Will

Posted in Lawyers

Human emotions are changeable and so are relationships. You might have had very strong relationships with few people in the past which led you to include them in certain stipulations in your will. But circumstances such as a family feud, spoilt terms, or a falling out might force you to consider changing your terms.

For example, do you really want to give away your precious antique furniture to your niece who has been out of touch for years or do you still want to give away your emerald pendant to your ex-best friend? It is recommended  that you take stock of your personal situation (since it is bound to keep changing) every five years and update your will.

Involvement with a charitable cause

Even if you had decided to distribute your assets and property amongst your close friends and family, it’s not true that your ideas and wishes will remain constant years down the line. It’s quite common to develop an urge for philanthropy and to do good for society as you grow older. You might get involved with a charitable cause or you may start associating with a welfare organization. Under these circumstances, it’s natural for you to want certain changes in your will.

Personal checklist can change

Death, divorce, altered terms with somebody, birth, and adoption will incite changes in your original will. You will have to consider these changes by consulting with your family provision firm. This will be specially necessary when your heirs and beneficiaries reach the age of 18 or you decide to donate to some charitable cause.