1200 South Mitchell Street, Cadillac, Michigan 49601
telephone (231) 775-0147 or (231) 884-1764 - fax (231) 775-0213
mark@lawnorth.com
Copyright 1998, 1999, 2000, 2001, 2002, 2003, 2004, 2005 Mark E. Smathers, P.C.
Wills, Trusts and Probate
What is probate? ^top I hope that some of your questions have been answered. Please don't hesitate to ask any questions of us regarding your advance directive or any part of your estate plan.
This site has FAQs on these topics:
What is Probate?
Will there be a probate administration upon my death?
If I have a will is there automatically a probate administration?
If I have a trust is there a probate administration?
Can jointly owned property be a useful planning device?
What is a Will?
What is a trust?
Contrast living and testamentary trusts.
Should everyone have a living trust?
What are some stronger reasons for having a trust?
Will my family have inheritance tax?
Isn't the Federal Tax Exemption Amount going up?
What is a life insurance trust?
Tax savings from lifetime gifts.
Who should have a will?
If I have a living trust do I need a will?
All my property is joint with my spouse. Do I need a will?
What is a "simple" will?
Can I make a will without my lawyer's help or advice?
What property passes under my will?
What assests do not pass under my will?
How do I plan for different stages in my life?
Tell me more about the property I leave in my will?
What should I put in about personal and household belongings?
My house has a mortgage, who will pay the mortgage?
What is a personal representative and whom should I pick?
What about a guardian and conservator for my kids?
What do some of those words in my will mean?
Where should I keep my will?
Whom should I tell where my will is located?
What does Herrinton, Menezes & Smathers do with the photocopy of my will?
Who should get copies of my will?
When should I review my will?
What are some changes that would cause me to review my will?
How do I change my will?
How do I revoke my will?
Should I tell my personal representative who my attorney is?
Probate is the legal process to pay the decedent's debts, and distribute the decedent's remaining property to his or her beneficiaries. This process can be expensive and time-consuming, although both cost and time have been reduced since Michigan's adoption of a modified version of the Uniform Probate Code. Probating an estate (more appropriately called administering a probate estate) can take place whether you have a will or not, and whether you have a living trust or not. Part of the probate process may include "proving" the validity of a will in court. Probate administration of a will is a secure way to have your estate settled the way you intended.
Nonetheless, many people try to avoid having their property go through probate. The chief means of avoiding probate are joint ownership and revocable living trusts. While both can be useful, neither precludes the need for a will. If you have minor children, you need a will to designate a guardian. And, even without children, it's difficult at best and may be unwise at worst to put everything you own into either joint ownership or a living trust.
What determines whether or not there is a probate administration upon my death? ^top
Probate administration affects property that is only in the decedents own name. If property was jointly owned with right of survivorship the property passes directly to the surviving owner(s) upon the death of the other owner. What is often misunderstood is that making a will or not making a will does not determine if there will be a probate administration. If you die without a will you may still have a probate administration. This is called an intestate administration. The personal representative will be chosen according to state law and the property of the estate (after allowed bills and claims are paid) will be distributed according to state law. Who will receive your estate in an intestate proceeding depends on whether or not you are married and who your relatives are. If you have a will the personal representative you named in your will can administer the estate. The beneficiaries you named in your will can receive your estate. An heir, a creditor, or other interested party can petition the court and ask for a probate administration. (See further explanation in the will questions on this page).
If I have a will is there automatically a probate administration? ^top
No. Whether or not you have a will doesn't affect whether or not you have a probate administration. Probate depends on how your property is owned or titled. If all of your property is jointly owned with right of survivorship there should not be a probate administration. If all of your property is owned by a living trust there should not be a probate administration. However, a dissatisfied heir or creditor could still petition for probate. If your estate was carefully designed such a petition should be unsuccessful. Mind that having a simple will and a probate administration is the best estate plan for many people. The expense of administration is largely postponed until your death and your property will go just as you state in your will. When a person dies that has made a will the law says the will must be submitted to the Probate Court in the decedent's county. But, submitting the will does not necessarily mean there will be a probate estate.
If I have a trust is there a probate administration? ^top
Revocable living trusts are intended to keep your property under your control during your lifetime and to provide direct transfer to your named beneficiaries upon your death. Such trusts should bypass probate but, this depends on proper funding and maintenance of the trust. If some of your property is not, in fact, owned by the trust there may still be a probate. Contrary to popular belief, revocable living trusts do not bypass taxes. The assets of a living trust are included in your taxable estate.
A living trust run by a successor trustee whom you have designated can also be used to manage your affairs should you become unable to do so. But a simpler and less expensive way to accomplish this would be a durable power of attorney, so named because it remains in effect should you become incapacitated. The power can be as broad or specific as you choose, granting power over one checking account or all your financial affairs. (See the separate sections on Durable Powers of Attorney and Advance Directives at this site).
Can jointly owned property be a useful planning device? ^top
Where there are rights of survivorship, joint property passes directly to the co-owner upon death. This greatly speeds and simplifies the transfer of property at death. Many married couples own all of their property jointly and there is no probate administration at all upon the death of the first spouse. Joint ownership can thus be very useful and should always be considered as part of any estate plan. But joint ownership can create as many problems as it solves, particularly when the other joint owner is not your spouse: (1) Once you put property in joint ownership, you can no longer dispose of it in your will. (2) Owning everything jointly with your spouse can result in heavy taxation of the estate when the second spouse dies. (3) Joint ownership reduces your control of your property during your lifetime. For example, a joint checking account with your child enables the child to pay your bills, but also means your child can dip into the account for other purposes. Even assuming your child wouldn't do such a thing, his or her creditors (divorce actions?) could have access to at least half and possibly all of the money, in the event your child gets into financial difficulties. (Most banks now have simplified procedures to set up beneficiary accounts (formerly often called Totten trust accounts, sometimes called a pay-on-death account or a bank trust account). Simply open an account in your own name, as trustee for the benefit of your beneficiary; the named person or persons will then receive the money when you die but do not have access to the funds in your lifetime. (4) The joint owner of property doesn't always share or dispose of the property as you intended. For instance say you make your home or your accounts joint with one of you children intending that this child share with his or her brothers and sisters. Upon your death if this child doesn't share you have created more expense and time delays for your family than ever a probate administration would have done.
What is a will? ^top
A will is document, which directs how your estate should be handled upon your death. It must be written and signed and follow certain formalities and requirements to be valid. A good will is written to cover many possible contingencies so that it won't have to be constantly redone. (See the discussion points below).
What is a trust? ^top
A trust is a legal form or ownership. A trust is usually created by a written document but the law does sometimes recognize oral trusts. Proving the terms and intentions of an oral trust can be very difficulty and such trusts are not recommended. To be valid the trust must then be funded with some amount of property. It may help to think of a trust as something similar to a corporation. The settlor (or trustor) is the person or persons who creates the trust and generally is the beneficiary of a trust. Think of the settlor as the shareholders and board of directors of the trust. The trustee or trustees is the person with the responsibility for the operation of the trust. Think of the trustee as the president and officers of the trust.
Trusts are very flexible and useful. For estate planning purposes one of the most noteworthy aspects of a trust is that it can survive even after the person who created the trust died. For instance you make a trust and you are also the trustee. You then transfer the bulk of your assets to the trust by using the appropriate title documents. The trust now owns the property and you as trustee manage the property. Upon your death the successor trustee takes over the management of the property but the trust still owns the property. There is no break in ownership and there should not be a probated administration for this property. The successor trustee will follow the directions you put in the trust on how the trust should be administered and how and when the remaining property in the trust should be distributed to your beneficiaries.
What's the difference between a living trust and testamentary trust? ^top
A living trust, which is usually a revocable living trust, is created by a person during the person's lifetime. The trust must be funded. A testamentary trust is created by a person's will. The will can specify the sources for funding the trust after a person's death. (See the Guardian for Children topic at this site for more information on a specific type of testamentary trust).
Should everyone have a living trust? ^top
Not at all. Trusts tend to be oversold these days. If the only reason you want a trust is to avoid a probate administration you might be better served by having a simple will, a durable power of attorney and an advance directive. If you have a trust you should still have those three items as well. A living trust will avoid probate if it is properly set up and managed. However, too often we have seen poorly drafted trusts which did not accomplish the desired goals. Also many people set up a trust and then forget about it or forget to put the assets in the trust. When they die the assets not in trust require probate administration. So these people have paid for a trust and now their estate will pay for a probate administration as well! However, if you are a good manager and follow up on your trust paying for the trust now could be cheaper and easier on your family than a probate administration.
What are some stronger reasons for having a trust? ^top
Will my family or beneficiaries have to pay inheritance tax? ^top
Michigan no longer has an estate or inheritance tax unless you have a Federal Estate Tax. If you do have a Federal Estate tax then you will also have a smaller Michigan Estate Tax. Federal estate taxes take the biggest bite out of most large estates. There is federal tax on estates larger than $675,000 for 2001 and on estates larger than $1,000,000 in 2002. The big jump is because of the 2001 tax law. The amount continues to rise until the year 2009. After 2009 the estate tax is repealed.
The way to limit estate taxes if your estate is over this amount is to keep money out of your taxable estate. There are several ways to accomplish this, but most involve either giving the money away or placing it in trust.
Isn't the $675,000 Federal and Estate Gift Tax exemption changing? ^top
Yes. After staying at $600,000 for many years the exemption rose to $625,000 in 1998 and $650,000 in 1999. It is now $675,000 for 2001. Over the next eight years it will continue to rise and be repealed altogether after 2009.
What is a life insurance trust? ^top
With a life insurance trust you can remove a large asset from your taxable estate. You could simply transfer ownership of your life insurance to your spouse and take it out of your estate. But, if you do so, the asset becomes taxable in your spouse's estate. If put in a specific type of trust (or purchased by such a trust), it may not be included in either estate, and should pass tax-free to the heirs. The value of a whole or general life insurance policy may be subject to gift tax at the time you make the transfer, but its value then is far less than it would be after death. (This is in contrast to the value of a term insurance policy, which is simply the premium at the time of the transfer.) Even a paid up whole-life policy generally is worth nowhere near what the death benefit would be. The result is that you're making "a leveraged gift, a small amount for a big asset.
Giving a gift to a life insurance trust, however, is complicated because of annual gift tax exclusions, and we would be happy to consult with you on this issue. The exclusion will depend on the number of beneficiaries of the trust as well as the powers of the beneficiaries. Note that federal gift tax, due on gifts to one individual or institution exceeding $10,000 in value ($10,000 each per spouse, in the case of married couples) in any one year, will reduce the $675,000 estate tax exemption. The gift and estate taxes have been "unified" to prevent estate tax avoidance through gift giving. An alternative would be to have a life insurance trust purchase the policy directly.
In order to bypass estate taxes via a life insurance trust, the trust must be irrevocable (you can't change your mind), and you must name someone else as trustee (you can't retain any rights in the policy). Furthermore, if you've transferred an existing policy rather than taking out a new one, and you die within three years of establishing the trust, the value of the life insurance policy at your death (the death benefit) is included in your estate. Life insurance trusts are closely scrutinized by the IRS, so you should consult your attorney before creating one.
Tax savings from lifetime gifts ^top
You can give money away during your lifetime in the form of outright gifts or you can make a gift to young children via the Uniform Gifts to Minors Act or Uniform Transfers to Minors Act. Up to $10, 000 per person per year ($20,000 for a married couple) may, under current law, be given free of gift tax to any number of individual recipients. If you and your spouse have four children, for example, and an estate worth $2,000,000, you could give away up to $80,000 a year ($20,000 to each child which is $10,000 from each of you), in ten years, remove $800,000 from your taxable estate. But don't be hasty; if you'll need the money, don't give it away just because it may be subject to tax after you're gone. Estate planning is about family planning, not just about taxes.
You don't have to be rich to consider establishing a trust. People of moderate means may use a testamentary trust (one that takes effect at death) to protect the children of a first marriage or to keep an immature beneficiary from squandering an inheritance. If you've been married before, as an example, you might want to establish a trust under which your current spouse would receive 'income from your assets during his/her lifetime but the principal would go to your own children (or other heirs you've designated) at your death. If your heirs are young children, a trust might provide that property be distributed in installments with the last payout when the beneficiary reaches age 30 or even older. Also, in the case of a disabled child, a trust can be drawn to provide money for the child without jeopardizing the child's eligibility for government benefits. In these and other cases, HERRINTON, MENEZES & SMATHERS, P.C. can give you more specific advice after learning more about your own unique situation. consult a tax advisor who specializes in your particular situation.
People with taxable estates over $675,000 may want to consider trusts specifically designed to zero estate taxes. You may think such devices are for multimillionaires but, minimizing taxes has much more impact on the smaller estate. Don't count on the unlimited marital deduction to solve all your problems. Although an estate of any size can pass to a surviving spouse without being subject to federal estate tax, the estate of the second to die may then be hit with a large tax.
If you have an estate worth $700,000 and your spouse has one worth $400,000, for example, you could each leave everything outright to the other, with the marital deduction eliminating any federal estate tax. On the second death, however, Uncle Sam would get his due. Of the combined estate of $1.1 million, only $675,000 would be protected by the estate tax exclusion. The rest would be taxable, to the tune of almost $180,000-almost half of the non-tax sheltered estate! One solution is to divide the assets so that each spouse has an estate of no more than $675,000, leave $675,000 in trust, and no federal estate tax will be due at either spouse's death.
It works like this: Instead of leaving everything to your spouse outright, put up to $675,000 into trust, with interest income going to your spouse, and principal to your children or other heirs. At your spouse's death, up to $675,000 in his or her own estate plus the money in the trust goes directly, untouched by federal estate tax, to the heirs. For estate tax purposes, it's as if you left it to the heirs in the first place. During your spouse's lifetime, you can arrange for the trustee to distribute income to the spouse from the trust as needed and, if you choose, to invade the principal. The spouse can be a trustee but, perhaps, shouldn't be the sole trustee. Nor does we recommend naming only a child as trustee: If mother has to go to the children to ask or money, everyone may be uncomfortable.
Who should have a will? ^top
Everyone should have a will. Having a will does not mean that you will have a probate administration. But it does mean that if you do have a probate administration your wishes will be followed. If you have young children you will wish to name a guardian for those children in your will. (See separate topic at this site). If you have remarried you and your spouse can include each other's children. Otherwise the children of the first spouse to die might not receive anything.
I have a living trust do I need a will? ^top
Yes. A revocable living trust is one part of a comprehensive estate plan. You should still have a will. The will would typically direct that any of your property that was still in your name should be added to the trust. This would take care of any property you mistakenly thought was in the trust and wasn't or that you had not finished putting into the trust.
All my property is joint with my spouse do I need a will? ^top
Yes. Similar to the trust situation you might have forgotten to make some property joint with right of survivorship. Or a transfer that made property joint could prove to be invalid. Or you may receive property by inheritance or some other unexpected source that has not yet been turned into a joint asset.
What is a "simple will?" ^top
A simple will means a will that does not also include a testamentary trust. A testamentary trust is a trust written into the will that can spring into existence upon the death of the person who made the will.
Can I make my own will without my lawyers help or advice? ^top
Yes. You can also take out your own appendix without your doctor's help or advice. Seriously an ounce of prevention is worth a pound of cure. A will should be written to accomplish your specific goals. A will that doesn't do what you expect will cost your family time, money and heartache.
What property passes under my will? ^top
All property which is in your name alone will be disposed of by your will. For example, a bank account, stock, real estate, your automobile, your television, household items and similar items in your name. If you own an undivided interest in property with another, (for instance as a tenant in common) your undivided interest will pass under your will, but not if the property which you own with another is joint with rights of survivorship. (See earlier FAQs on probate administration).
What assets do not pass under my will? ^top
Property in joint names with rights of survivorship will pass to the survivor. Life insurance payable to named beneficiaries will pass to the beneficiaries. IRAs, pension, retirement or other employee benefits payable to named beneficiaries will pass to the named beneficiaries. U.S. Savings Bonds which are in joint names will pass to the survivor. Those payable on death to a named beneficiary will pass to the named beneficiaries.
If the named beneficiary in any of the above examples is your "estate" or your "will" or your "personal representatives" or "administrators", then this property will pass under your will.
How do I plan for different stages in my life? ^top
Don't be penny wise and pound foolish. People who demand a simple will to save money may forfeit thousands and thousands of dollars for their heirs. Estate planning, like financial planning, isn't a one-time proposition, to be done once and forgotten. Your estate plan should be reviewed as your life changes. Different phases of life demand different plans. For instance:
Young married couples may wish to have all of their property jointly owned or they may find it desirable to have individual ownership of property, making investments in separate names so that each spouse owns roughly equivalent amounts. The home and a household checking should typically be jointly owned. Simple wills could leave everything to each other. With the birth of the first childit's imperative to rewrite each spouse's will and name a guardian to raise the child should anything happen to both parents. If there are two or more children, the parents should consider establishing a trust for the minor children to segregate the assets left to the children. A sprinkling trust will allow the trustee to distribute funds as needed- the same way you would as a parent where children might have different needs.
If the parents divorce and remarry but both want to protect the children of the first marriage, each parent could establish a QTIP trust. This is not a tax-saving device but way to allow the surviving spouse to use the income from the deceased spouse's estate while guaranteeing that the principal will go to the designated children.
For those nearing retirement, the next step may be a credit shelter trustto shield up to $1.3 million from federal estate taxes. Where estates exceed this amount, the purchase of life insurance will help pay estate taxes. "Second-to-die" insurance, with proceeds payable at the death of the second spouse (when the taxes will be due), can serve this purpose well.
Tell me more about the property passing under my will? ^top
With property which will pass under your will, it is not necessary that you name or describe each item. Your assets can be described by groups, categories or in any other way which adequately describes your property. It is also possible to leave all of your property, or certain categories of it, to more than one beneficiary by providing that each beneficiary is to receive a fraction or percentage of all or any category of property.
If you want a particular beneficiary to receive a specific item of property or a specific amount of money, such a provision should be clearly expressed in your will. If you wish to leave a specific sum of money to a beneficiary, because of the fact that your estate may increase or decrease in size between the time that you execute your will and the time of your death, you may wish to consider whether or not the amount of money should be limited by a percentage of your estate. For example, assume your estate is worth $50,000.00 and you wish to leave a beneficiary $500.00. Five Hundred Dollars is 1% of your estate. If your estate should shrink to $25,000.00 by the time of your death, the bequest of money may be more than you would have intended under the circumstances. If, however, your bequest is made in terms of the lesser of $500.00, or 1% of your estate, then the bequest would shrink proportionately with the total estate.
What should I put in about my personal and household effects? ^top
In dealing with your personal effects, household goods, etc., (which includes furniture, appliances, silverware, china, wearing apparel, automobiles, etc.) we frequently recommend a provision which leaves all of such property to a surviving spouse and alternatively to children, grandchildren, etc. This is true even if your will has a testamentary trust because your children or your children's guardian may need these items without delay. Your attorney can include in your will a provision that provides for your to leave a letter, list or memorandum which specifies who will receive specific items of property. Although such a memorandum is not legally binding, it is usually persuasive and such a memorandum can be made and changed at any time without going through the intricacies of amending your will.
My house has a mortgage, who will pay the mortgage? ^top
If you own a residence or other parcel of land subject to a mortgage the person to whom you leave your residence or land may be entitled to require your personal representative to pay off the mortgage. If this is not what you desire, you may wish to provide that the residence or land is left to a beneficiary subject to the mortgage, and this will mean that the personal representative cannot be required to pay off the mortgage. Instead, it will become an obligation of the person receiving the property. Your will should specify which outcome you desire.
What is a personal representative and whom should I pick? ^top
It will be necessary for you to name a personal representative for your will. The function of the personal representative, in summary, is to collect your assets, pay your debts and distribute the remainder of your property to the beneficiaries named in your will. Some other states call the personal representative an executor or administrator. Many people name their surviving spouses and alternatively, adult children, as personal representatives of their wills. It is possible to name one personal representative and any number of alternate personal representatives to serve in the event that prior named personal representatives fail to serve. For example, a surviving spouse can be named as primary personal representative, the oldest child as first alternate personal representative and the second oldest child as second alternate personal representative. A personal representative must be over the age of 18 to serve in Michigan. However, a minor child can be named personal representative in your will if he is over 18 when your will is probated.
It is also possible to name two or more persons to serve as co-personal representatives and such co-personal representatives will serve concurrently with each other. Alternate personal representatives can be named for any co-personal representative who does not serve. It may be wise, although it is not necessary, to name a bank as the final alternate personal representative.
Under certain circumstances, a bank with trust powers may be your first choice as personal representative. Some of the reasons for choosing a bank with trust powers as your personal representatives are as follows: where you believe that there will be conflict between your devisees, particularly if you choose one child over others; where your estate is very large, includes a business or extensive properties, and requires some expertise, where your estate is of significant size and you are responsible for a handicapped dependent, or where your estate is of significant or large size and there is no one in Michigan to perform the work involved in administering your estate. Although it is possible, under Michigan law, to name someone out of state as a personal representative, it is more complicated for that person to perform the services from a long distance. In each of the above situations there may also alternatives to naming a bank. On the other hand banks can charge significant fees for their services as personal representative or trustee.
What about a Testamentary Guardian and Conservator? ^top
It is also possible, under Michigan law, to appoint in your will a guardian for your children who may be under the age of 18 and who have no surviving parent. At HERRINTON, MENEZES & SMATHERS, P.C. we would discuss this very personal matter more fully at our conference. If the guardian whom you have nominated in your will accepts the appointment, that guardian is responsible for raising your child. Therefore, you should choose, as a guardian of your minor children, a person or persons who will give your children the kind of care you desire. (See the separate topic at this web site about guardians for minor children).
What do some of those words in my will mean? ^top
Bequest, bequeath - A bequest is a gift by will of money or personal property (excluding land). To bequeath means to make the bequest in your will.
Where Shall I Keep My Will? ^top
Codicil - A codicil is an amendment to a will which changes the will in some manner. It is usually a separate document and must be executed with the same formalities as a will. If your review of your will indicates a change should be made this may be the most efficient way to accomplish your wishes.
Devise, devisee - In Michigan, a devise is a gift by will. A devisee is the person to whom a gift is given by a will.
Die Testate - To die with a will.
Die Intestate - To die without a will.
"In default of issue" As used in a will, "in default of issue means dying without leaving any direct living descendants that is living children, grandchildren, or great grandchildren.
Issue - Issue means lawful blood descendants, whether children, grandchildren, great grandchildren, etc. and as used in most wills, includes adopted children, grandchildren, etc. The term "issue" excludes stepchildren, unless you define the term issue and children as including stepchildren. If you desire to exclude adopted children, you should advise your attorney of that fact.
Legacy - This term is frequently used as a synonym for bequest, but technically means a gift by will of money only.
Lapsed legacy or devise - When a beneficiary under a will dies before the person making the will, the gift, whether of land, money or other personal property, lapses, which means that it does not pass to the deceased person or his estate.
Per stirpes - This is a Latin term. When used in a will it means that if a beneficiary of a will dies before the maker of the will but the beneficiaries descendants will take their deceased ancestors share. For example: Let's say you have two children wish to leave 1/2 of your estate to each of them. Let's also say that each of your children has three children (making six grandchildren to you). Now suppose that one of your children dies before you. If you have a "per stirpes" provision in your will it confirms that you wish your estate split into two portions. Your surviving child will receive 1/2 and your three grandchildren whose parent has died will divide the other half.
Residuary estate - The residuary estate is that portion of your total estate covered by a residuary clause in your will. The residuary clause of your will disposes of all of
your property not specifically disposed of earlier in your will. In other words, after you have made specific gifts, a residuary clause normally provides that you leave "all the rest, residue and remainder" of your estate to one or more beneficiaries.
Testator/Testatrix - The term for a male/female who is making a will.
You should keep your Will in a safe, but accessible place. You may leave your original will at the probate court in your county. There is fee for doing so. You may also keep your will in a safety deposit box or in some other safe place. If your Will leaves property in a way significantly different from the way it would pass if you die with-no will, then a secure location is extremely important. We also suggest that you keep a photocopy of your Will at home for reference and annual review.
Whom Should I Tell Where My Original Will is Located? ^top
You should tell your spouse and your Personal Representative where your original Will is kept. You may want to tell some other trusted relatives as well.
What does HERRINTON, MENEZES & SMATHERS, P.C. do with the Photocopy of My Will? ^top
We keep it in your confidential file. We will not make copies for anyone other than you or someone you authorize.
Who Should Get Copies of My Will? ^top
It is not necessary for anyone other than you, the client, to have copies of your Will. If you wish, we will be glad to make copies for anyone you desire, but remember if you change your Will, the copies of the old Wills could be embarrassing to you.
When Should I Review my Will? ^top
We suggest that you review your Will every time there is a significant change in your family or financial situation. At a minimum, you should review your Will once a year.
What are Some Changes That Would Cause Me to Review My Will? ^top
How Do I Change My Will? ^top
If your will was properly crafted a change in your life that causes you to review your will may not mean that your will should be changed. A good will provides for a variety of situations.
If your will does need to be changed: Do not write on the Will. Changing your Will is often done by a Codicil. However, if you are changing beneficiaries or changing the amounts being given to beneficiaries, it is a better practice to redo the will. The fee for redoing your will is usually the same as for adding a Codicil. We recommend that you contact us, or another attorney, if you want to make any changes and to make certain all changes are legally made.
How do I Revoke My Will? ^top
Normally you should not revoke your Will unless you are having a new one prepared. If you revoke your Will and die without one, your property will be distributed according to State Law, and that may not be the way you want.
Should I Tell My Personal Representative Who My Attorney Is? ^top
Yes, in case you die, your Personal Representative should know where to locate your Will or a copy of it.
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