If you have a will, congratulations! But now you may be wondering, “When should I update my will?” Good question.
In this brief video, I review life events that prompt revising your will. While marriage, babies and divorce may be obvious, other events that warrant an update include a shift in your relationship with the person named executor or an increase in assets.
At a minimum, I recommend reviewing your will every two years regardless. And the beginning of the year is the perfect time to get it done. As you start to think about your New Year’s Resolution, this task may be one to add to the list.
To learn more about why everyone needs an estate plan — even if it’s just a simple will — and what happens if you die without one, view my previous video. Then to hear more from me about wills, estate planning, and blended families, listen to these podcasts on IRC Wealthcast:
Having control of your financial future, while you’re alive — as well as ensuring that your wishes are met after your death — doesn’t have to be complicated. But like so many things in life, it does require some ongoing maintenance. If it’s time to revisit your will, I recommend making that appointment for January now and enjoy having one less thing to worry about as this year winds down.
Everyone’s situation is different; what it takes for you to be financially independent is unique to you. If you’d like to discuss any questions or concerns you have your financial life, please contact us for a no obligation consultation to see how we can help.
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