Just in the last 60 days I have had three different intake meetings with clients who, when asked, “Do you have a will?” answered by saying something like, “No, I had one, but its really old.” The follow up questions revealed that they do, in fact, have a will.
Many people make the mistake of thinking that their Will has an expiration date. That is to say, that it will “go bad” if not used within a certain amount of time. They are usually surprised, if not concerned, that their “Last Will and Testament” is just that, it’s the last one until there is another.
There are life changes that change the effect of, or operate to revoke a will. Marriage and divorce are the most obvious. But, in general, a Last Will is just that, it’s the last one you make out and sign with proper formalities and it is good until you pass away. Your passing just confirms that it is “last.”
If you have births, deaths, changes in names or any other event that makes the provisions of your existing will unclear or uncertain, then you should update your will. But, once you have signed a Will, you should never just assume that it has “gone bad.”
This article is written by an attorney at Attorney Donald Wyatt PC. Always consult an attorney before making any legal decisions. To make an appointment today for a free consultation, please click here to contact us.