When you create an estate plan, you may think your responsibilities have finished. However, it’s vital to understand that you’ll need to make updates to reflect the changes in your life. Unfortunately, many people are unfamiliar with how to update a Will, so they procrastinate making the necessary revisions. As such, this means you may pass away without your estate plan reflecting your true wishes. Understanding how to revise these documents is crucial. The following blog explores how a Medina County, Ohio Will preparation lawyer can assist you through these challenging times.

Why Might I Need to Update a Will?

When you create a Will, it will reflect your life at the time of its creation. However, as your life changes, your estate plan should be updated to ensure your wishes are met. 

Common Life Changes Requiring an Update

Common reasons you may want to update your Will include, but are not limited to, the following:

  • Birth or adoption of a child or grandchild
  • Deaths of a beneficiary or Executor
  • Marriage or divorce
  • Acquiring or selling property
  • Legislation passes that impact estate taxes
  • Inheriting assets and funds
  • Changes in estate laws
  • You lose or misplace your Will
  • Relocation to a new state (laws and wording may vary in different locations)

If any of these situations apply to you, updating your Will is likely the best course of action to ensure your wishes are met.

Recommended Review Frequency

In general, you should review your estate plan, including your Will, every three to five years. However, you should also review these documents after significant life events occur. 

How Can I Make Changes?

In the event you want to make changes to your Will, knowing how to proceed is vital. Unfortunately, many believe they can simply cross out the area they wish to revise and attach a note with the updated terms. However, this is far from the truth. Changes to your Will must be legally executed to be valid under Ohio law. 

Option 1: Create a Codicil

If you wish to update your Will, the first available option is to create a Codicil, or amendment, to the terms and conditions of the document. A Codicil:

  • Is ideal for small updates
  • Must be in writing
  • Must be signed by the testator
  • Must be signed by two competent witnesses
  • Must be attached to and stored with the original will

After death, both the Will and Codicils will be read together.

Option 2: Create an Entirely New Will

Under some circumstances, adding a Codicil to your will may not be appropriate as too many can create confusion and increase the likelihood of disputes. In some instances, you will need to completely revoke and rewrite the terms and conditions of your Will. This is generally necessary:

  • When multiple changes are needed
  • When the old will is unclear
  • When Beneficiaries or property distribution wishes change drastically

If you wish to create a new Will, you must:

  • Draft a new document clearly stating that you revoke all previous wills
  • Destroy the old Will
  • Ensure the new Will complies with Ohio law (signed by yourself and two witnesses)

Can I Make Written Edits to the Will?

Many assume that making handwritten edits on their Will, whether it’s crossing out text or adding notes, will be fine. Unfortunately, these are not legally recognized. As such, making handwritten edits can result in your document being deemed invalid. Ensuring you adhere to the requirements of Ohio law is critical. 

When Should I Consider Creating a New Will Instead of Using a Codicil?

As mentioned, certain substantial changes may require you to create an entirely new Will as opposed to drafting a short Codicil. Common scenarios include:

  • New marriages
  • Divorce
  • Adding or removing multiple Beneficiaries
  • Switching Executors
  • New property or substantial changes in assets
  • Changing guardianship provisions

Do I Need an Attorney to Update My Will?

If you need to make changes to your Will, whether major or minor, it is in your best interest to enlist the assistance of an experienced lawyer. 

Risks of Updating a Will Without Legal Help

  • Improper execution can invalidate the whole document
  • Conflicting amendments can result in litigation
  • Witness errors can result in Probate challenges
  • Unclear language can result in disputes

Contact Our Dedicated Medina County Estate Planning Law Firm

It’s in your best interest to contact an experienced estate planning attorney as soon as possible if you wish to make changes or updates to your Will. Not only can this ensure your wishes are accurately reflected, but it can help make sure any amendments you want to include are legally binding. Luckily, Krause Law is ready to assist. Our dedicated legal team will work with you to ensure your wishes are met. Contact us today to learn how we can help.