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The Importance of Updating Your Will May 15, 2018

Last Will and TestamentMaking the decision to pre-plan for your funeral and establishing legal documents to make sure your wishes are carried out upon your death is rarely a pleasant task. Like many tasks involved in life, it can be challenging to accomplish but rewarding once it is successfully completed.

Many people experience a feeling of relief and peace of mind once they create a Will and make final arrangements. They may consider the duty completed when done but there is often more to do as years pass. If you’ve already made out a Will, congratulations, the most difficult work has been done. You should, however, also check to make sure family situations or your wishes haven’t changed through the years and your Will reflects your current situation.

Here are some thoughts on why it is important to keep updating your Will.

Your family changes through the years. It may change due to divorce, a death or even the addition of a grandchild. Younger children may become adult children. These changes may impact on how your Will is directed.

Income or asset changes. Your income may change significantly one way or another. Perhaps you added or dispensed of significant assets. These changes should be considered in updating your Will.

Personal wishes may change. Perhaps you have become involved in a new non-profit organization. Maybe you have changed churches or your attitude has simply adjusted as you have aged. You may not have the same beliefs or motivation to help specific causes you did years ago. Revisiting your Will can make sure you stay on the same page with your present wishes and values.

Perhaps you’ve moved. Many people, particularly seniors, will retire to different states from where their Will was initially established and filed. You’ll want to be assured your Will is enforceable, as is, in any state you may have relocated to. Consult with an attorney in your new state of residence to make sure all is well.

Tax laws may have changed. You’ll want to make sure any new legislation won’t negatively affect your estate. Tax and inheritance regulations may also impact those in your Will. Updating your Will may avoid unpleasant “surprises”.

These changes may also reflect on your pre-planning desires. Make sure you revisit your funeral plans, on occasion, to reflect current thoughts and desires. Make sure these plans are in tune with what you’ve told close family members.

At Fares J. Radel Funeral Homes and Crematory, we’ve been assisting families in Northern Kentucky and Cincinnati, OH with final arrangements for decades. We have witnessed the positive effects of proper Will and funeral pre-planning and have too often seen the negative impact of not planning appropriately. To learn more, we encourage you to contact the professional and caring team at Fares J. Radel.

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