When Is The Best Time To Write My Will?
Death is topic most people try to avoid. As unpleasant and uncomfortable as the subject may be, it’s important to start planning for it early on to ensure that your family is taken care of in the future. So, when’s the best time to write your will if you live in midtown NYC – or anywhere for that matter? There are a few triggering life events that call for the creation or revision of your will.
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Marriage or Divorce
Whether you’re getting married, divorced or remarried, you’re about to undergo a major life change. Now is the right time to write your will, or revise your current one, to ensure that your family is taken care of upon your death.
Keep in mind that if you created a will before you got married, it will automatically be cancelled the moment you say “I do” unless you specified otherwise in the will.
The birth of your first child is a great time to create a will. It will ensure that your child is provided for. Yes, the state will ensure that a portion of your estate will be given to your children, the division the state chooses may not be what you wanted.
Buying a Home
When you buy a home, you make a significant change to the value of your estate. Changes in your estate’s value will affect your beneficiaries, so this is a good time to create or revise your will.
Generally speaking, any time there is a change to the value of your estate, you should revise your will (or create one if you have yet to do so). Whether you purchase additional real estate or increase the value of your estate in other ways, you want to ensure that your will reflects the current value of your estate, so your beneficiaries are provided for appropriately.
A Close Call
A health scare or near-death experience may be one of the harshest reminders that it’s time to create a will. While these types of events are unfortunate, they serve as a reminder that we are not prepared for death. If you or a loved one have had a recent health scare, it’s time to write or update your will.
Contact a Wills Lawyer in New York NY
Now is the best time to write your will. It’s never too early to start planning your death and organizing your estate. Call the experienced attorneys at Scheichet & Davis today at (888) 373-0163.