1.) You’ve Moved
Wills are administered in the state that you die in, not the state that the will was written. Different states have different rules.
2.) Beneficiary Changes
Your beneficiary, or person who will receive advantages from your trust, will, or life insurance policy may have passed away. You might also consider adding a new beneficiary.
3.) Marital Changes
Marriage statuses change. Recent marriages or divorces may lead to an update in your will.
4.) Asset Change
Asset may increase or decrease in value. It is important for your will to have the correct worth of your assets.
5.) Additional Child/Grandchildren
It is important to update your will when you have new children or grandchildren. As they grow up you may want to change their inheritances as well.
6.) New Legislation
New bills and legislations are always being proposed and passed. It is important to keep track of these and meet with an estate attorney.
7.) Changes in Charity Relationships
If a charity plays an important role in your life, you may consider putting that charity in your will.
8.) Poor Health
If you or a beneficiary has been diagnosed with a terminal illness, it is important to address any changes that may be affected in your will. It is recommended that you consult with an attorney to make these changes.