When you write your will, be careful and do try to get everything perfectly right. Remember that your family may be counting on it to be accurate and helpful. You never know when they’re actually going to need to use it. Don’t make mistakes.
That said, don’t worry so much about mistakes that it’s paralyzing. You can change the will after you write it. In fact, you may need to change things that aren’t even “mistakes” in the first place. Life happens. Maybe you have a new grandchild or sell an asset. You can update your will to reflect the changes.
How do you do it? You have a few options. Some people choose to update the actual document that they filed. Others dispose of that will and write a brand new one. Still others use additional documents, like a personal property memorandum or a codicil.
You may even want to consider adding different options to your estate plan. Maybe you only wrote a will, but now you’re having second thoughts about how an heir will use their money. Instead of giving it to them in the will, you could opt to put it in a trust. The trust then passes them the money, but the provisions you decide on govern that trust.
No matter what you opt to do, the key is to remember that you can definitely update your estate plan. Don’t assume it has to stand forever. When updates are needed, act quickly and get them in place so that the documents are always current. Be sure you know what steps you should take.
