Maryland residents who have taken the time and effort to create an estate plan have done a wise thing. It is a crucial part of being fully prepared for the future. Many people have exchanged hard feelings and extended disputes over a loved one’s assets after they are gone. Frequently this stems from the person not writing a will.
However, even after writing and executing a will, it does not necessarily end there. Life changes happen and people might need to update the will or rewrite it entirely. The law is clear about this and other key estate planning issues. Knowing how to change a will when necessary is necessary to ensure the testator’s property goes where they want it to go.
What circumstances might warrant updating a will?
Regardless of how old a person is when they write their will, they inevitably experience changes. Some examples that would justify updating a will include getting married or divorced; a sudden windfall; having children; a person who was named in the will dying; the person who might have been selected to care for children dying or becoming incapacitated; or simply wanting to make changes. There are myriad other reasons.
A significant change undoubtedly warrants updating a will, but if the person decides they want to change it for any reason, they have a right to do so. Minor changes could do with a codicil, which is an addition to the existing will. Substantive changes might mean the person should write an entirely new will instead of adding a codicil.
Writing a new document and ensuring it stands up to legal scrutiny means the same rules that were followed with the original will must be adhered to with the new will. That includes signing it and having two credible witnesses who are at least 18 years old. The testator needs to be of sound mind. They must be writing the will of their own volition, free of undue influence, for it to be valid.
A comprehensive estate plan may require experienced assistance
Estate planning is critical, but the job is not done when it is first completed. To make sure a will fulfills a person’s objectives and is fully up to date, it is important to have professional assistance. This is not just to make sure the document is legal, but to be certain that any updates are also legal. From the start, whether it is writing the will or updating it, having professional advice is imperative.