What Is in a Will? A will—more formally known as a last will and testament—provides instructions about who should receive a person’s money and property after the person’s death and whom they would like to care for their dependents. Estate planning attorneys generally recommend revisiting—and possibly updating—a will every few years. Even if the person who created the will has not experienced a major life event, periodic reviews are essential to ensure that the will still accurately represents their intentions and the relevant law.
Updating an Existing Will. Amendments to a will are made using a legal document called a codicil. Codicils are something of an anachronism dating to the time before computers when drafting a new will by hand was more onerous. Nowadays, it is easier than it used to be to create a new will that contains the amended portions.
Executing a New Will. Your estate planning lawyer may advise you that a codicil is not worth the potential problems it can cause and instead recommend that you make a new will. The new will must be properly executed in accordance with state law, and it should contain language that clearly states your desire to revoke all prior wills.
Destroying an Old Will. The fastest way to revoke a will is to physically destroy it. Usually, a person can revoke their will by “cutting, tearing, burning, obliterating, canceling, destroying, or mutilating” it. The destruction must be done with the intent and for the purpose of revocation. Typically, when somebody destroys an old will, they make a new will. But if the old will is not legally revoked, and a new one is created, the existence of multiple wills could lead to litigation.
Revoking a Will by Operation of Law. State law may provide that a will is revoked, in part or in full, if certain events take place, such as the following:
- If a person gets divorced or has their marriage annulled, any part of the will that refers to their spouse, or the spouse’s family, is automatically revoked.
- There is a new will or codicil that includes provisions that contradict provisions in the old will or codicil.
- A beneficiary’s interest is revoked under a “slayer statute” if the beneficiary kills the will-maker.
Thinking of Changing Your Will? Talk to an Estate Planning Lawyer. Whether you are making minor changes to your will or destroying the old one and starting from scratch, any revocation of your will must comply with state law. Otherwise, a court might not recognize your final wishes, which can produce consequences akin to not having a will at all and cause your loved ones additional stress and potential conflict.
An estate plan should be updated every few years to take into account new milestones and directions as well as changes in the applicable law. To discuss changes to your estate plan, please contact us to schedule an appointment.