Tuesday, July 19, 2011

Seven Reasons to Change Your Will

"Lawyers Are": A learned gentleman who rescues your estate from your enemies and keeps it himself.
- Henry Brougham
As a follow-up to yesterday's important documents, here are 7 Reasons to Review or Revise Your Will from Investopedia.com.
  1. You have a new child, make a new friend, or find a long-lost relative
  2. You Move - different states have different inheritance laws
  3. You win the Lottery - if you come into a large sum of money you might want to establish a Trust to manage the cash.
  4. You get divorced
  5. Your spouse, child, parent or other passes away
  6. You change your mind about who gets what. "I swear, after what cousin Joe did, that he won't get a penny!"
  7. You want to support a new/different charity
Bottom Line

Wills are living documents that must be maintained with changes in your life.

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