Now that holiday festivities have died down, but your resolve to meet your New Year’s resolutions is still high, why not take out your Last Will & Testament and review it? Or, if you don’t have a Will, make a belated resolution to make one.
A Will sets forth how you want your property distributed after your death. And it’s important to have one, because if you don’t, the law decides for you who will inherit your property. A Will allows you to give your property to whomever you want, including friends, charities, and non-immediate family If you have children under the age of 18, a Will is an important tool to name the person who will care for them in the event of your death.
As life events occur, such as the birth of a child, the death of a parent, or a divorce from a spouse, it is especially important to take out your Will, review it, and make any necessary changes. You can amend your Will as many times as you’d like, and the process is easy and relatively inexpensive. But you want to be sure to have a lawyer assist you, as the amendment must meet formal requirements to be considered valid. If an amendment isn’t executed properly, the law says that your Will as previously written controls.
The estate planning attorneys at Godbey & Associates are here to help. We offer a free initial consultation to plan your Will, or review your old one. To make an appointment to speak to one of our attorneys, contact us at (513) 241-6650. Or check out our estate planning website: www.probateandestateplanningattorney.com
Written by: Elizabeth L. Bach, Esq.