If your kids have grown up and moved out, update your will

One of the easiest mistakes for people to make regarding an estate plan for a last will is to assume that once they initially complete the process of creating one, they won't have to worry about it anymore. While it is true that creating an estate plan or last will provides you with peace of mind and your loved ones with security and guidance about your wishes in the event that something happens to you, the guidance and protection in your estate plan is only as good as the plan itself.

If you created an estate plan when you found out you were going to have children, the issues you address in your documents may no longer apply to your life if they have grown up and become independent.

Reviewing and revising your estate plan can ensure that you cover all the pertinent topics and issues for your current life situation and also that your will won't be open to legal challenges just because of how old and inaccurate the document currently is.

Your will needs to change when your family situation changes

Perhaps you have always known that you wanted your assets evenly divided among all of your children. In that scenario, provided that you have had children and at least some of them are still alive, the contents of your last will or estate plan could still be accurate.

However, people tend to acquire specific assets they would like to leave to people. The family members whom they want to support after they're passing may now be old enough to support themselves. People could also grow their families in other ways, such as adoption or by caring for the children of family members who can't do so themselves.

Adjusting your last will when your family situation changes helps ensure that it is up to date and accurate. The more frequently you revisit the terms of your last will, the better the protections for your intentions and the people whom you love and provide for.

Early wills and estate plans may not address issues for your golden years in Georgia

In your 20s and 30s, you may not be able to predict all of the issues that may arise in your family, personal life, career or health as you age. Your last will and will likely focus on ensuring transfer of assets and guardians for your children.

As you get older, however, you may have other concerns you want to address. These could include leaving an advance health care directive or creating a power of attorney in the event that you wind up incapacitated for one reason or another. Talking with an experienced estate planning lawyer can help you determine when and how to update your existing estate plan.

No Comments

Leave a comment
Comment Information
Email Our Lawyers

Contact Us To Find Out How We Can Help You And Your Family

Call 866-253-6994 or fill out the form below to set up a consult with J. Kevin Tharpe to
talk about your wishes and ways he can help you accomplish your goals.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

We have offices in Gainesville and Young Harris for your convenience.

Gainesville Office
405 Broad Street SE
Gainesville, GA 30501

Toll Free: 866-253-6994
Fax: 770-531-5511
Gainesville Law Office Map

Gainesville Office

Young Harris Office
1352 Main Street, Suite 1
Young Harris, GA 30582

Toll Free: 866-253-6994
Fax: 770-531-5511
Young Harris Law Office Map

Young Harris Office