Updating a will is much like gardening. Focus on each plant as it pertains to the entire garden. Attack weeds as you see them, and never underestimate the power of care. In terms of an estate planning document, here are a few reasons why a will should be revisited, reviewed, and or revised:
- Changes in Minnesota Law,
- Changes in Federal Law,
- Family Births or Adoptions
- Injuries, health problems, or deaths to an agent or Personal Representative,
- Aging with new ideas and thoughts,
- Retirement from the Military,
- Change in finances or assets.
More Reasons to Amend a Will
- Restructuring tax allocations,
- Adding or amending a trust,
- The purchase of life insurance or more sophisticated financial products,
- Marital changes or the death of a spouse,
- Fallout with friends or family,
- International travel,
- A change to agents, beneficiaries, and guardians,
- Moving to a new residence.
Estate Planning Help
Estate Attorney Jasper Berg
