Your will is much more important than you may believe. Of course, it protects your final wishes, but perhaps more importantly, it gives your family guidance when they need it most – as they mourn your loss.
Like most, you may take comfort in knowing your final arrangements have been made, but what if something goes wrong with your will? The tips below can protect this critical estate planning document from becoming outdated, invalid or lost.
1. Get regular reviews and updates
Most modern Americans lead busy lives, which may make it easy to forget about updating your estate documents when something major happens. Consider scheduling annual reviews to keep your will current with your life, and always seek updates after events like marriage, childbirth and death.
2. Stay abreast of the law
Each state has unique will, trust and estate laws, and they can change rapidly. For example, holographic or spoken wills are allowed in some states but are only valid in Indiana under strict circumstances. Take some time to review the law routinely to ensure your entire plan remains legally valid.
3. Store your estate plan properly
If your loved ones or estate executor cannot locate your will, there is a risk that your final wishes will go unfulfilled. Choose a secure storage method, such as with your representative or in a locked safe. Ensure someone you trust knows where to find your documents and how to access them.
Sound estate planning requires more than initial effort—it takes a measured approach and knowledge of the law to create effective will provisions. Legal guidance can help you learn more about estate planning and Indiana wills law.