Your will and your estate plan are not matters to take lightly or to take for granted. You have worked hard to attain your property and want to make sure that your legacy is secured and your loved ones are well cared for. Even if you have already created a will and estate plan, you still need to regularly revisit these plans over time as your life and wishes evolve.
How to Revoke Your Will
There are several ways to revoke an old will. The first happens by default if you get married after you have made a will—without having made provisions for your new spouse. Another revocation occurs if you have divorced after the creation of your will, then the terms of the old will that benefit your former spouse are considered revoked.
Other legally recognized ways to revoke a will include “Burning, tearing, canceling or obliterating” the will, to revoke it, “by the testator, or by some person in the presence and at the direction of the testator.” Also, executing a new will replaces the old one.
Why Update Your Will?
If you are interested in creating or updating your will, you need to contact a respected estate planning attorney. Life is fluid and your intentions may have significantly changed since the time you created your old will. Examples of this are falling out with loved ones, additional children, or maybe the desire to give to charity. Having an outdated will can result in your property being distributed based on your outdated intentions, leaving out the people that you now want to benefit from your property.
Even the existence of an old will can be problematic if it isn’t destroyed. An unrevoked will can create confusion and delay in your probate proceedings. This is especially true if you have an updated will that no one can locate. Also, the beneficiaries of your old will may have an incentive to challenge the validity of your updated will, which creates a time consuming and expensive legal battle.
An updated estate plan created with the help of a respected estate planning attorney can help you create clarity and certainty in your intentions, and eliminate the aforementioned issues.
Estate Planning Attorneys at Viloria, Oliphant, Oster & Aman L.L.P.
Viloria, Oliphant, Oster & Aman, L.L.P. is a small-sized law firm that provides personalized service to individuals who want to explore planning their estate. Our attorneys are understand the gravity of the decisions our clients are making and work tirelessly to help them. If you want to make smart, informed decisions about your estate plan, contact Viloria, Oliphant, Oster & Aman L.L.P. at (775) 227-2280 to schedule a consultation or contact our office through our website.