J. Kelly Kennedy, Attorney/CPA, PLLC

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An out-of-date will can ruin your estate plan

In a recent article, this blog stressed the importance of updating a will following major life events. These included the birth of child, a death in the family or a divorce. These events are often watershed moments in a person's life that change a person's wishes and desires. A change in the number or value of a person's assets can also have the same effect. Therefore, an updated estate plan is a must.

If people choose not to update their estate plan, their will can quickly become out-of-date. It may not include a person's children which could leave them without an inheritance or a guardian should the person suddenly die. Or, an out-of-date will could leave assets to a person's ex-spouse, for example. These mistakes can easily be remedied, but if left alone, can cost people's loved ones both time and money.

Our firm understands the importance of a person's estate plan and the crucial role a will can play. For decades, our attorneys have worked to help people plan for the future. Not only do we help people with the legal implications of a will, but we help people with the financial side.

By keeping a will up to date, people may be able to limit their tax liability and ensure that their family will be taken care of. Our firm helps by explaining the legal framework that is necessary for a will to be valid. Additionally, our attention to detail, helps people to choose the best options for their family.

As a family grows and changes, their estate planning needs will also change. Our firm can take these details into account to create the best plan possible. For more information on wills and their role in an estate plan, please see our website.

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