The Importance of Updating Your Will
Creating a last will and testament is a vital step in safeguarding your assets and ensuring your wishes are honored after your passing. Despite the fact that many people procrastinate on this important task, the mere act of having a will puts you ahead of the majority. According to the 2024 Wills and Estate Planning Study by Caring.com, only one-third of Americans have prepared a will. This statistic underscores the necessity of not only drafting a will but also keeping it current. Updating your will is crucial during various life changes. Major life events, such as marriage, divorce, or the birth of a child, often necessitate a review of your estate planning documents. These changes can significantly impact how your assets should be distributed and who should be responsible for executing your wishes. Additionally, if a beneficiary experiences a major life change—like a marriage, divorce, or the birth of a