You may have committed a great deal and effort toward establishing your will. So if you think of things to add or change your mind about certain things afterward, you may be hesitant to go back and start the process over again. Rest assured, there are ways in which you may edit your existing will. Continue reading to learn how to go about making changes to your will and how an experienced Butler County will preparation attorney at Heritage Elder Law & Estate Planning, LLC can offer guidance.
What edits can possibly be made to my will?
Your will is probably the most important estate planning document you may have. So, it is understandable if you want to go back and make changes that better align with your wishes. Without further ado, below are common reasons why individuals may edit their existing wills:
- They may want to remove the executor of their will and appoint a new individual.
- They may want to alter how an inheritance is divided amongst their beneficiaries.
- They may want to change what an inheritance can be used for.
- They may want to change the amount of money left to pay for their future healthcare needs.
How do I go about making changes to my will?
Once you figure out what changes need to be made to your existing will, you may opt for one of three choices: make a codicil, make a new personal property memorandum, or make a new will.
For one, a codicil is a testamentary or supplementary document that may serve to amend, rather than to replace, your existing will. In other words, you may be allowed to write down what you want to remove or add to your existing will and then sign off on it alongside two witnesses. And so, upon your passing, your will and codicil will be read and interpreted together.
On the other hand, if your existing will already has a personal property memorandum, then it may be easiest to just replace this. Specifically, this is a separate legal document that allows you to create a list of specific items of tangible property you wish to give specific beneficiaries. Unlike a codicil, you do not need the signatures of two witnesses. What’s more, to be considered valid and enforceable, your existing will must mention its existence.
Lastly, making a new will may be in your best interest if your wishes have drastically changed. By revoking your existing will altogether, and replacing it with a new one, you avoid the risk of having your wishes misinterpreted in probate court.
When it comes to editing your will, you need one of the skilled Butler County estate planning attorneys by your side. This is why you must contact Heritage Elder Law & Estate Planning, LLC as soon as possible.