Triggers that Require you to Update your Will

Posted By admin on Sep 15, 2017 |

Triggers that Require you to Update your Will

Some people refuse to write a will because they consider it as a last resort for people who are about to die. The ideology is wrong since anyone can write a will and update it as many times as possible. Wills in Caversham are a strategy of securing provision for your loved ones and allocating your assets to people who matter most. There is no set time to start writing a will but there are some trigger events that should provide the necessary swift kick for you to update your will.

Getting Married, Divorced or Remarrying

Did you know that any will made before you get married is nullified once you get married unless the will states otherwise? Changes in personal relationships lead to inclusion or removal of beneficiaries from the will. Remember to change your will after getting married, after a divorce or after remarrying. It is sad for people to fight to get a share of your assets after you are gone just because you did not specify who to get what when you were alive.

When you Start having Children

Children are the priority in most cases when it comes to subdividing inheritance. If your children are in the minority age, you need to select a suitable guardian because they cannot access their property until they reach the majority age. Remember to update your will once your children reach their adulthood and include their wives or children in the will. Secure your children’s future by writing a will while they are still young.

Anytime You Increase your Assets

Have you recently bought a car, home or started a new business? You need to update your will to reflect the new beneficiaries. The same should also happen when you sell a home, car or loose a business. No one wants people to fight and disagree over their property after they die. On the same note, no one wants their property to be managed or inherited by the wrong people so, why not write a will today? Browse site for more details on wills.