When to Update Your Will

Attorney Michael A. Hackard explains the importance of regular will review and the events that could lead to a change.

SACRAMENTO, Calif., Dec. 7, 2022 /PRNewswire/ -- A plan can never be too perfect; it will need tweaking after a while. The same goes for a will. You must revise it as soon as a significant life event potentially changes the beneficiaries in your will. The founding attorney of Hackard Law, Michael A. Hackard, shares his views on the regularity of will review and the events that precede a will change.

Several events should make you revisit your will. Here are five major instances:

• When there has been a change in relationship or your marital status
• When your assets have changed considerably, due to either financial setbacks or a windfall
• Adding or losing a member of your family
• A change in the law that is likely to invalidate a term in your will
• Moving to a new state where probate and inheritance laws may differ.

While you are likely to forget about or procrastinate in updating your will, regularly revisiting your will and consulting with your California trust and estate attorney can save a lot of stress.

Attorney Michael A. Hackard says will revision is critical in keeping up with the changes in your life. He says, "It is very critical to know what life events call for a change of your will. However, regular revision without waiting for a major event to happen takes the win." He adds, "Regular revisions are necessary, especially when you've been consumed in the moment by everything happening. Revise your will every five years to stay several steps ahead."

Hackard Law has been one of California's best-performing law firms for nearly four decades, receiving prestigious ratings from Avvo and an AV Preeminent rating from Martindale Hubbell for their commitment to providing exceptional legal counsel to their clients. They provide legal consultation and representation for businesses and individuals.

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SOURCE Hackard Law