Estate planning lawyers can provide you with assistance if you wish to update a last will and testament. It is important that you get legal help instead of trying to handle updates to your estate plan on your own. Frank & Kraft can provide personalized guidance on the impact of the changes you wish to make and can advise you on the best legal tools to use as part of your estate planning.
There are many reasons why you should reach out to an experienced attorney to make updates to your will. Your legacy is too important to just leave to chance, so give us a call today to find out how estate planning lawyers at our firm can assist you with making all appropriate updates to the plans you have in place for the distribution of assets after your death.
Why Get Help Updating a Will From Estate Planning Lawyers
There are myriad reasons to reach out to an attorney if you are thinking about making any changes to an existing estate plan. Some of the key reasons you should get help updating your will include the following:
- You want to ensure your wishes are made clear on which will applies: Do you want your update to completely repudiate your existing will or are you just hoping to make small tweaks while leaving the framework of your estate plan in place? Working with an experienced attorney can allow you to take the right approach and make your wishes clear so there is no question about what will should be probated after you pass away.
- You want to ensure your changes don’t affect estate tax: If you were leaving all of your assets to a spouse and you are now changing your will to leave your money and property to someone else, this could mean your estate will now be subject to taxation if it is a larger one. Although you can pass an unlimited amount of wealth to your spouse without your estate being taxed on it, the same is not true when you leave your assets to other heirs or beneficiaries. You’ll need to ensure that you account for estate tax and make plans to avoid these taxes if you’re making changes that could trigger taxation.
- You want to follow formalities for making an update to your will: It is important to ensure your updated will is in writing, properly witnessed and otherwise created in accordance with the law. If you fail to follow formalities, it is possible your updated will won’t be probated.
- You want to reduce the chances of your will being contested: A will could be contested if you are not of sound mind when you make it or if you were coerced into creating the will as a result of fraud or duress. You should work with an experienced attorney to try to find ways to reduce the chances that someone will be able to successfully challenge your will.
Frank & Kraft is here to help you to ensure your updated will is legally valid, protective of your interests and right for your situation. Don’t take a chance on your wishes not being respected and on losing control of your legacy when you could reach out to our experienced attorneys to update your will the right way.
Contact Estate Planning Lawyers Today
Estate planning lawyers at Frank & Kraft will work closely with you to ensure you always have an updated estate plan that reflects your current life situation. To find out more about the services we can provide to you in your estate planning process, join us for a free seminar. You can also give us a call at 317-684-1100 or contact us online to get personalized one-on-one advice about making the plans that are right for you and your loved ones.
Mr. Kraft assists clients primarily in the areas of estate planning and administration, Medicaid planning, federal and state taxation, real estate and corporate law, bringing the added perspective of an accounting background to his work.
- Charitable Gifting Options - June 17, 2021
- What Is a Spendthrift Trust? - June 15, 2021
- How Will My Age at Retirement Affect My Social Security Benefits? - June 10, 2021
