Your estate plan works best when every part of it stays current. Updating your will in Washington is an essential part of keeping your estate plan aligned with your current life circumstances. As your life changes, your will should change too.
Understanding the need to update your will
Your will dictates the distribution of your assets after your death. It can also designate a personal representative (or executor) for your estate. Over time, you may experience important life changes that may also necessitate a change for your estate planning. It’s important to update your will after a significant life event to ensure that your estate reflects your current wishes and that your loved ones are properly cared for according to your intentions.
Common reasons to update your will
There are several reasons to keep your will up to date. If you get married, you may want to add your spouse to your will, while a divorce could mean removing your former spouse and adjusting how your assets are distributed. The birth of children or grandchildren is another important time to revise your will, especially to name new beneficiaries or guardians. You should also update your will when you acquire new property or large assets so it reflects your current financial situation. Additionally, if your relationships with any beneficiaries change, you might consider updating your will to match your current wishes.
How to legally update your will
In Washington, you can update your will in two main ways: through a codicil or by creating a new one. A codicil is a document that modifies an existing will. You can use it to add, change, or revoke specific provisions of your will. The codicil must be signed and witnessed in the same way as the original to be legally valid. Alternatively, you can revoke your old will by creating a new one. A new will should explicitly state that it revokes all previous wills. This is the most thorough way to update your will, as it eliminates any confusion about your intentions.
Keeping your will up to date ensures the future care of your loved ones and the proper distribution of your belongings and assets. An up-to-date will can help protect the people and possessions that matter most to you.