Life Changing Events and Writing a Will for Your Family
The mere thought of writing a will and what that means can be stress-inducing, but it’s important to keep in mind how important it is for both you and your loved ones to do so. The grief that comes with losing a family member is difficult enough to deal with: making it so they do not have to guess what your wishes were can alleviate even a little bit of it. It can also have the function of helping avert conflict between your heirs.
No matter what your circumstances, making a will is something you should consider. Age and health should not have a bearing on when you do so, as unexpected events can always occur. It’s important, to be honest about this and remember that your will can be updated anytime. If you work with an estate planning attorney, the process can be much smoother, easier to navigate, and legally sound.
When Should You Write Your Will?
There are a few varieties of milestones that tend to prompt people to write or update a will. Perhaps you are dealing with such life events and already have a will, which is ideal. If not, though, you should not hesitate to contact a Sacramento estate lawyer clients can trust to get started.
Life-changing events can change the way you think about your final wishes. If you’re in the midst of any of the following situations, seriously consider contacting an attorney to write or update your will.
Getting married will inarguably change many areas of your life, including who will be part of your will. For example, if you have been married previously or in a long-term relationship, your last partner might still be the one cited to inherit your assets. Updating your will is important in that case.
Depending on the state where you live, you may also be required to rewrite your will after getting married. In states where that is the law, if you do not rewrite your will, it is possible that your spouse could inherit your estate as if you did not have a will at all.
That said, there are a few possible exceptions to consider. This may not apply if:
- A premarital agreement specified a different arrangement as to what and how much your spouse will inherit.
- The will provided for your spouse by name and stated specifically how much of your assets would be inherited.
- The will clearly noted that your spouse would not inherit your estate.
Divorce can also change many aspects of your life; the main change is that you likely will no longer want your ex-spouse to inherit your assets. Updating your will is crucial to making this change. If you have minor children, you should also write your wishes for their custody or guardianship into the will. Talking to an estate attorney about establishing a guardianship as well as a trust for your children is a helpful step when considering the possibility of your passing away before they come of age.
Adding a Child to the Family
Giving birth to or adopting a child means you should make sure you provide for his or her future. If your assets include property, your children can inherit it through your will, but if they are minors, they cannot own it.
Establishing a trust should thus be part of your estate planning. An estate planning attorney can help you complete this process, as well as guide you through potential tax-saving options you may have.
Purchasing Major Assets
Any recent investments or major purchases of property should be considered when writing a will. You will want to note who is to inherit those assets. These purchases can include the following:
- Houses and land
- Vehicles, including cars and boats
- Art and jewelry
- Recreational vehicles
- Valuable collectibles and memorabilia
Contact An Attorney Today
Writing your will does not need to be highly stressful. Contact us to start the process with an attorney from our firm. We have worked with clients of a variety of ages and backgrounds to prepare their loved ones for any circumstance. Call today to make an appointment with an estate planning attorney with the knowledge and experience to help you.
If you have a question about wills in Arizona, please call to speak to one of our experienced Scottsdale divorce and Phoenix wills Arizona attorneys at (480)305-8300.
Thanks to our friends and contributors from Yee Law Group for their insight into writing a will.