Wills and trusts are binding legal documents, but that doesn’t mean they’re written in stone. They can be altered as the circumstances in your life change. In this blog post, we will review why you may need to update your will, living will or trust.
1. Marriage or divorce
If you’ve just gotten married, you’ll want to determine what portion of your assets should go to your spouse following your death.
If this is a second marriage or you have children from a previous relationship, you may need to consult with an estate planning attorney on how to provide for all your loved ones.
And although getting divorced usually cuts your spouse out of your will, you’ll still need to determine other matters, especially if your will had called for them to serve as your executor or guardian of your children.
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