Many people have questions about what it takes to put together a will. It’s a mistake to assume that generating a will is a once and done kind of activity and this is because you may need to update your will over the course of your life. It is a misconception that a will expires.
A will doesn’t expire so long as it is properly executed, valid and in line with your individual wishes. This is a solid form of estate planning whether it is recently created or 20 years old. Despite the fact that wills do not expire, it’s a good idea to pull out your will once in a while and review it.
This is not because your will might become invalid based on its age but rather because your life circumstances may have changed, and this requires updating.
Wills generally grow and become reevaluated with the creator but every now and then, it’s a good time to set aside an annual reminder in your calendar to sit down and review your will, preferably with the assistance of an experienced estate planning attorney. You want to ensure that the will meets your individual needs.
At least every five years, you should evaluate your will and after life changing events as well. Wills require some attention after things like deaths and divorces. You should review your entire estate plan if you have recently had your life circumstances changed so that you can ensure that your estate plan is evolving along with you.