Why wills are obsolete

Please reference the Terms of Use and the Supplemental Terms for specific information related to your state. Lawyer Directory. Call us at 1 It's not enough just to find the will--the executor also must make sure that the will-maker didn't revoke or replace it later.

Start Your Will Today! Wills Don't Expire There's no expiration date on a will. Was It Revoked? To revoke a will, the person who wrote it must either: physically destroy the will, or clearly state, in another document, that he or she intends to revoke the will. If the will is gone or marked up The best way to revoke a will is to make a new will, stating that you're revoking the old one. There are two types of outdated trusts and wills: 1 documents your clients have created and 2 documents created by deceased loved ones of your clients where your clients are beneficiaries.

The fastest way to determine whether documents your clients have created are outdated is to look at the signature pages. If the documents were signed during or before , your clients need an immediate estate plan review. Of course, if there are no signatures a not unheard of situation , then we absolutely need to speak with your clients since their wishes are likely not legally valid.

These trusts can sometimes be decades old and almost certainly have obsolete language. It is almost always worth examining these documents to ascertain opportunities for tax and administrative improvement. Like investment or financial planning, tax planning, health and fitness, and so many other aspects of life, proper estate planning is an ongoing process that clients must revisit regularly.

If outdated plans go unchecked, negative consequences can occur. FLPs, ILITs, AB trusts, and other convoluted acronyms can be indicative of trusts or planning strategies that have outlived their usefulness to your clients. In our free guide, a California estate planning attorney explains common mistakes people make when creating their estate plans and how to prevent them.

Are Wills Obsolete? Nationally recognized attorney helping clients with customized estate planning guidance for over 40 years. Join the Discussion. Notify me of follow-up comments via email. Overall, a very pleasant and efficient experience. Peter was excellent! John R. We had a nice phone conversation. Norman N. Practice Areas. Blogs Sign Up. Like what you see? Follow us to stay current! View Map. First Name. Last Name. Phone Number. Where did you hear of us?

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