Why Updating Your Will Can Be Complicated

After creating a Will you may wonder what you might need to do if you ever want to make a change. In general, changing your Will requires you to do the same things you had to do when you made one. Namely, you must make the changes in writing, sign it and have it witnessed. However, there are other factors you may need to consider if you choose to change your Will or its terms.

Major Versus Minor Changes

Some Will changes are relatively minor, such as changing who you want to serve as guardian over your children or updating your Will to reflect a change in financial circumstances. Other changes, however, are more significant, such as changing your Will after you get a divorce or after a new child is born. You will want to speak to your attorney to determine whether you should create a codicil, a separate document you can add to your Will, or if you need to create a new one.

Wills and Trusts

If you have a Will and decide to create a trust, this may require you to significantly alter the terms of your Will. Many people can take advantage of a trust by creating what is known as a “pour over” Will. These Wills are designed to work hand-in-hand with the trust, and leave the trust as the primary tool through which you choose your heirs. When using a trust, your Will is largely secondary, though it is still necessary and should still be changed carefully.