Reviewing and updating your Will and other estate planning documents to keep up with your current circumstances is essential. It is recommended that you have an attorney review your current Will at least every 3 to 5 years. What should you do when your Will no longer meets your needs, and you want to revoke it?
The best course of action is to make a new Will that expresses your objectives based on your current personal and financial situation. Drafting a new Will ensures that your property is distributed in an effective, legally binding manner. Your new Will, if properly drafted by an estate planning attorney, will include a statement that confirms that you are revoking any and all prior Wills.
You should also make sure to destroy your previous Will, plus any copies, once your new Will is signed, witnessed, and notarized. This will eliminate any confusion as to which version of your Will is valid. You should ensure your new Will is in place before destroying the old Will. Simply tearing up your current Will, with no Will to replace it, would leave you without a Will. If you were to pass away before making a new Will, your estate would be distributed according to the intestacy statutes.
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