Life can be unpredictable, and change is always happening. As such, this may require a person to modify their will, particularly in case of significant life changes such as divorce, the arrival of new children, and the passing of loved ones. It is vital to update your will accordingly to ensure that your final wishes are properly carried out after you’ve departed. However, many people delay updating their wills because they’re unsure how to begin the process. Please don’t wait until it’s too late. Please continue reading to learn how you can make changes to your will and how a skilled Montgomery County Will Drafting Attorney can help you today.
How can I amend an existing will in Maryland?
After creating a will, you may wonder how often you should update it to ensure your wishes are met after you’ve passed. Generally, you should update your will whenever significant changes occur to ensure the stipulated terms reflect your current situation. Creating a codicil is one of the best ways to change a will. A codicil is a written instrument that amends the contexts of an existing will. This method is often used when an individual wants to make an easy update or minor change to their will. To create an addendum, you must formally write down the specific updates, whether changing something existing or taking something out. It is imperative to note that you must sign it and have at least two witnesses sign it as well.
Moreover, you can always go the route of writing a new will. If you want to make significant changes to your existing will, it may just be easier to create a new one where you can ensure it reflects your current circumstances. You can revoke your existing will and replace it with a new one to minimize the risk of your loved ones getting confused by all of the add-ons if you make several amendments.
Furthermore, you can make a personal property memorandum. A personal property memorandum is a separate document from your will. It allows you to outline the tangible property you want to give specific beneficiaries after your death. Like a codicil, this memorandum would go with your original will and act as a replacement that can be referenced.
After creating an estate plan, you must keep your will up-to-date. If it does not reflect your current circumstances, it could result in your wishes not being met after your death. To prevent this, you must update your will accordingly. If you need to amend your will, please don’t hesitate to contact JD Katz today to learn how we can help you make the necessary changes to ensure your wishes are carried out as you desire.