Dusting Off Your Legacy: A Guide to Updating Your Will
Dusting Off Your Legacy: A Guide to Updating Your Will
Life is dynamic, and so is your estate plan. If your will hasn’t seen the light of day in a while, it might be time for an update. As trusted estate planning attorneys in Detroit, Dearborn, Royal Oak, and across Southeast Michigan, we’re here to guide you through the process. Here's when you should consider dusting off your will and giving it a refresh.
When Should You Update Your Will in Michigan?
There are several life events that should prompt a review of your will. Major changes in your life and shifts in assets can affect the distribution of your estate. Here’s a guide to the red flags that signal it’s time to update your will:
Major Life Changes
If you've recently experienced a significant life event like marriage, divorce, the birth of a child, or the loss of a beneficiary, it's crucial to revisit your will. These major changes can impact how your assets are distributed, and it's essential that your will reflects your current situation.
Shifting Assets
Acquiring new property or valuable investments? Your asset distribution plan might need an adjustment to ensure your will accurately represents your current holdings. Our attorneys in Detroit and Royal Oak can help make sure your will is up-to-date with these changes.
Legal Updates in Michigan
Laws evolve, and so should your will. Michigan estate planning laws may change over time, and it’s important to make sure your will complies with new legal requirements. The estate planning attorneys at our firm—serving Southeast Michigan—can help ensure your will remains legally valid and aligned with your wishes.
Tips for Updating Your Will
When updating your will, there are a few essential steps to keep in mind. Follow these tips to ensure a smooth process:
Gather Your Documents
Start by collecting your current will, along with other pertinent documents such as deeds and property titles, financial accounts, and current power of attorneys and patient advocate designations. This will give you a comprehensive view of your existing estate plan.
Make a List of Changes
Jot down any changes you want to make to your will. These might include adding new beneficiaries, adjusting asset allocations, or specifying new wishes for your loved ones. If you're unsure, our experienced attorneys in Southeast Michigan can offer personalized advice on how to structure these updates.
Seek Professional Legal Guidance
Updating a will involves complex legal considerations to ensure it’s valid and aligns with your current intentions. The attorneys at Harp Law—serving Detroit, Dearborn, Royal Oak, and Southeast Michigan—are here to provide expert advice. Avoid the pitfalls of DIY wills by ensuring your updates meet all Michigan legal standards.
How Often Should You Update Your Will?
It’s generally recommended to review your estate plan every 3-5 years or after major life events. Whether you live in Detroit, Dearborn, or elsewhere in Southeast Michigan, regularly updating your will ensures it reflects your most current wishes.
Update Your Will
We make the process simple and convenient! Start by booking a free 15-minute Estate Plan Chat. We’ll discuss your general goals, and see if we might be a good fit to work together.
Not ready for a chat but still want to learn more? Click here to download our free Estate Planning Checklist.