How To Change Your Will
Since your will directs the distribution of certain property, you may wonder about the permanency of a will, and whether or not a will can be changed. At Meyring Law Firm, our codicils lawyers have more than 10 years’ experience helping people write wills and plan for their estates; we believe in the importance of keeping a will updated, as well as your beneficiaries.
As a firm that focuses on helping clients obtain the best possible results, we will listen to your goals and concerns and help you make any necessary changes to your estate planning documents, this way your estate plan truly reflects your wishes at all times.
Distributing Property Under a Will
A will is a legal document that directs how certain property is distributed after your death, this is called your probate estate. Your probate estate consists of all of the property that you owned at the time of your death and that was not distributed at the time of your death under a contract.
Probate assets include:
- Household furniture
- Cars registered in your name
- Real estate titled in your name
- Bank accounts without payable-on-death designations
- Stocks in bonds without transfer-on-death designations
Non-probate property, property that is not distributed under your will includes bank accounts with payable-on-death designations, life insurance with beneficiary designations, retirement accounts with death beneficiary designations, and property owned by you and another person as joint tenants with rights of survivorship. Your will does not control who receives non-probate property.
How to Change or Revoke a Will
Since your will does not take effect until you die and the probate court admits it to probate, you can change your will at any time before your death providing you are mentally competent.
You change a will be executing either a written document called a codicil, which changes an existing will, or by executing a new will. A codicil must be executed according to the same rules that apply to executing wills; however, you are not required to notify your beneficiaries if you change your will, nor do they need to approve any changes to your will.
You may revoke your will before your death, but the best way to revoke a will is to execute a new one.
Call an Atlanta estate planning lawyer today!
To learn more about changing a will, we invite you to contact our office to schedule a free case evaluation with an Atlanta estate planning attorney. In this initial evaluation, we will answer your questions and help you determine which steps you need to take to accomplish your goals!