Why Do You Need to Review Your Will?

June 14, 2021 | Categories:

cremation services Evanston, IL

Making choices for preplanning your funeral or cremation services Evanston, IL, and making sure all your final wishes go as planned is rarely a fun event but you owe it not only to yourself but to your loved ones as well.

Not many people like to talk about their end-of-life affairs for obvious reasons. Most people draft their will and put it in a deposit or safety box or leave a copy to their legal attorney, never to update it ever again. But your life does not always turn out the way you planned.

So, here are some of the thoughts convincing you why it’s important to review your will.

Unexpected Changes in Immediate Family

  • Your will usually reflects on the present situation and may not take into account the possible family changes over the years.
  • Any unfortunate death of the individuals you have named.
  • Addition of new family members – or heirs (birth, adoption).
  • Divorce or a new marriage
  • Your heirs or children – if any – reach the age of eighteen
  • Change in trustees, guardians, or other representatives of the children
  • These situations can significantly impact your will and prompt you to update it.

Income or Asset changes

A substantial increase or decrease in the value of your assets, estate, or net income can happen from the time you created the will. These changes should be reflected in the document if they make a difference. For instance, you may decide that a legatee should have more or less money.

Changes in State or Federal Laws

You need to stay informed of any new laws enacted by your state that may affect the estate or ownership transfer documents. Make sure any newly enacted legislation doesn’t affect your will – especially the changing tax and inheritance rules.

Review your will today to avoid giving any surprises to your family after you’re gone.

Move to a New State

It becomes even more important when you move to a new state to make sure that all the rules or laws you followed while crafting your will also conform to the requirements of the state you just moved in.

Remember, each state has its pieces of legislation and legal requirements for making a will legitimate. So, keep checking periodically about changing laws or the requirements of the state you currently live in. It’s better to consult an attorney in your new state to ensure that everything is according to the law of the land.

Personal Wishes Often Changecremation services Evanston, IL

It may not be obvious, but your personal wishes regarding your final affairs may change over time. You may get attached to a charity or non-profit organization or your religious affiliations may have changed as you aged. You may become closely involved with your church or perhaps it no longer figures in your life. You may be guided or motivated by some belief that appeared unrelated when you were creating the will.

For these reasons and more, you should revisit your will regularly to make sure it conforms to your present beliefs and values. It will help your family arrange cremation services Evanston, IL.