6 Reasons to Review Your Will
Unlike antiques and wine, a will does not improve with age. After you’ve created your will and an estate plan, you’ll most likely need to revisit them at key points in your life as your circumstances change. Here are six reasons why you might need to review and update your will:
- New marital circumstances – This could mean your own, your children’s, or your grandchildren’s relationships.
- Birth – If you have a new child or grandchild, you might want to add them to your will to provide for their financial needs after your lifetime.
- A loved one’s passing – Your carefully thought out plan can be profoundly affected by the passing of a family member.
- A new job – Make the best beneficiary arrangements for new employee benefits, including the proceeds of life insurance, 401(k) plans, and other company plans.
- A move to another state – Different state laws control the steps for making a valid will. Contact an estate planning attorney in your new state to review and update your will.
- A new or growing relationships with a church or charitable cause – If you want to continue supporting the churches, ministries, or charities that are important to you, consider including a gift to them in your will. You can set up an account with the Foundation to facilitate your gift after your lifetime.
Contact the Foundation today by emailing [email protected] or calling 515-974-8927 to see how we can be of assistance or visit our planned giving website for tools to help you create a plan. Check out our wills and estate planning information and consider setting up a Your Will Your Way workshop for the members in your congregation.