Your Will reflects the time when it was created. Many people intend to update their Wills but often fail to do so. You can always change your Will by adding a codicil (an amendment), but how do you know when to change it?
Here are some circumstances that make it vital to update your Will:
You want to name a different personal representative, trustee or guardian.
Your estate has increased or decreased significantly.
You've moved to another state.
Your situation or a beneficiary’s situation has changed because of marriage, divorce, birth, adoption or death.
Tax laws have changed.
You want to include a charitable gift in your Will. If you wish to remember The American Legion, or specific Post, consider leaving a percentage of your estate so your gift will remain proportionate to your estate size, no matter how it fluctuates over the years.
If you have additional questions on updating your Will or are considering adding a gift to The American Legion, please contact an estate planning attorney for more information.
Step 1: Obtain a copy of your current Will.
Step 2: Mark the necessary changes.
Step 3: Meet with your estate planning attorney.
Step 4: Discuss changes with us if they will affect The American Legion, or specific Post.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.