Attorneys are often asked how frequently a will should be updated. There are several benchmarks that should trigger updates to an individual’s estate planning documents.
Wills should be updated whenever the law changes and whenever an individual’s life circumstances change.
Attorneys are often asked how often wills should be updated. There is no cut and dried answer to this question. However, there are a few benchmarks that should trigger someone’s consideration of updating estate planning and advanced directive documents.
Of course, I believe that a will is typically only part of what most people need to have in place to have their affairs in complete order. As I have mentioned in this column previously, in addition to a will, almost everyone should have a financial power of attorney and a healthcare power of attorney. And, for many people, a living will is also advisable.
Read more about wills and when they should be updated in Lee’s article in the Lima News here: Legal-Ease: How often should I update my will?
Source: LimaOhio.com, “Legal-Ease: How often should I update my will?,” by Lee R. Schroeder, April 7, 2018
Lee R. Schroeder is an Ohio licensed attorney at Schroeder Law LLC in Putnam County. He limits his practice to business, real estate, estate planning and agriculture issues in northwest Ohio. He can be reached at Lee@LeeSchroeder.com or at 419-659-2058. This article is not intended to serve as legal advice, and specific advice should be sought from the licensed attorney of your choice based upon the specific facts and circumstances that you face.