In life, it’s a known fact that nothing is guaranteed. As such, you’ll find that things are constantly changing, and as a result, may impact the estate plan you have in place. If this happens, knowing what to do is critical. In many instances, you may need to revoke your will. However, if you’re not sure how to do this, the following blog can assist. Keep reading to learn under what circumstances you may need to revoke your will and why working with a Tampa wills lawyer is critical in these matters.
Why Might I Need to Revoke My Will?
When you created your estate plan, you may find that your life was drastically different then. Matters like marriage, divorce, death, and birth can all impact your current estate plan. As such, if you’ve reviewed your will and noticed multiple areas that must be updated to reflect your current wishes, you may not know what your options are. You’ll also find that coming into significant amounts of money or buying and selling property can also warrant considerable changes to your estate plan.
Generally, if there are one or two minor changes that must be made, you can add codicils or amendments to your will. These are supplemental documents that note changes to the will after its creation. However, adding too many codicils can create confusion, and as a result, your beneficiaries may contest the will.
Instead, you may want to revoke your current will and create a new one that reflects your current wishes.
What Methods Can I Use?
If you want to revoke your will, it’s important to wait until you have a new one established. Unfortunately, if you revoke your will and something should happen to you before you have the ability to create a new one, you will have passed away intestate. Essentially, this means that the state will assume control of your assets and distribute them according to an established line of succession.
When revoking your will, there are generally two methods you can utilize. The first is to physically destroy the will. This includes burning, blacking out the test, shredding, or otherwise obliterating the document. The other option is to revoke it in your newest will. Generally, you can state in your will that that version is the only acceptable one and all other versions are invalid. However, doing both is an easy way to ensure that the document you want is the one that should be honored.
As you can see, there are many considerations you should make when planning on revoking and creating a new will, which is why doing so under the guidance of an experienced attorney is imperative. At the Tampa Law Group, we understand how complicated these matters can be. That is why we are dedicated to helping guide you through this process so you can ensure your wishes are honored. Contact us today to learn how we can assist you.
