Avoiding mistakes in your will is about as important as making sure you turned off the stove in the kitchen. If mistakes are found in your will, it is possible that your wishes won’t be honored, the wrong beneficiaries will get the wrong assets, and your will may be invalidated altogether. Having a keen eye to look over your will is important to the future of your loved ones. An experienced estate planning attorney can help you draft a will so you can avoid mistakes such a poor executor to oversee your will following your death, forgetting beneficiaries, and missing key details. These mistakes can make or break the validity of a will, so be sure to have an estate planning lawyer to draft or review your will to make sure your affairs are in order and your loved ones’ future is set.
What If I Forget to List Assets for My Beneficiaries?
As you go through life, you may accumulate a ton of assets worthy of being included in your will. These assets include properties such as your house, your car, financial assets including stocks, bonds, and checking and savings accounts. It is possible that you continue to add to your assets even after drafting a will. Forgetting to list valuable assets for your beneficiaries can easily occur. If you forget to list certain assets on your will, the beneficiaries that you would want to receive those assets may not end up getting them.
An experienced estate planning attorney may advise you to add any valuable assets as they come up. You may also be able to have an attorney include a leftover clause that can help determine which beneficiary will end up with any assets that are not specifically listed on your will.
What is a Codicil?
There are ways to add additional amendments to your will as they come up rather than drafting a new one. This tool is called a codicil. Having a codicil can help you correct any mistakes that you make and ensure that your will is ultimately enacted after your passing. A codicil may help you add assets, change beneficiaries, and achieve many changes without completely re-working your will. However, if you overuse codicils, it may complicate your will. Be sure to consult with an estate planning attorney to help you gauge when you should use a codicil.
Can an Estate Planning Lawyer Fix Mistakes in My Will?
Ensuring your will is free of mistakes is an important process of drafting a valid will. Don’t do it alone. Israel & Gerity, PLLC can help you draft your will, free of errors, to make sure your beneficiaries don’t have to deal with any complications.