How Often Should I Update My Will

Full Video Transcript

You should review your will every few years to make sure it remains current and valid. You may want to make specific changes - like changing a beneficiary or revising certain gifts. Also, updates are necessary after major life events occur - like getting married or divorced, having more kids or grandkids, or if your financial situation changes. When you do make changes, remember that the changes will need to be made with certain formalities in order to be valid. You can't just simply cross something out or handwrite in the margin. While minor changes can often be made through a simple written amendment, called a codicil, for major changes you might need to actually revoke your old will and execute a whole new one. Witnesses may need to attest to the changes as well. The reason behind these formalities is so the court knows the changes were actually made by you and not by someone with an ulterior motive writing something in or adding pages after your death.

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