Last Will and testament document

 Common Reasons to Revise a Will in Maryland

Did you know that only 32% of Americans have a will? One of the reasons why some people are hesitant to complete estate planning is that they assume everything is set in stone the moment they sign the documents. However, your will in Maryland can be edited as much as you require to make sure that it perfectly reflects your wishes. What are some of the reasons why you might need to revise a will?


Major Life Events


Major life events such as marriages, divorces, births, and deaths significantly impact estate planning and are common reasons to revise a will in Maryland. When you get married, you’ll want to add your spouse to your will and potentially modify existing provisions. Conversely, divorce might necessitate the removal of a former spouse or adjustments in asset distribution. Births or adoptions also often require adding or updating beneficiaries to ensure that your children are adequately provided for.


Changes to the Executor or Your Preferred Guardian


The executor that you name in your will is responsible for managing the estate's affairs, while a guardian is appointed to take care of minor children if the parents pass away. Revisions might be necessary if the initially appointed individuals are no longer suitable or available for these roles due to changed circumstances or strained relationships. Additionally, the state of Maryland does have restrictions on who can serve as an executor, so if the person you appointed has been convicted of a serious crime since your will was written, you will need to revise the will accordingly.


Changes to Your Asset Portfolio


If you have significant fluctuations in your wealth or have acquired new assets, it’s also a good reason to revise a will in Maryland. Purchasing or selling a real estate property, starting a new business, or getting a large inheritance could all change your assets enough to require a will update.


Changes to Your Personal Relationships


Shifts in relationships with beneficiaries or other individuals mentioned in the will are also common reasons to revise a will in Maryland. Estrangements, reconciliations, or changes in your feelings towards someone else could impact your original intentions. Updating the will ensures it accurately reflects your current relationships and wishes. You can revise a will in Maryland many times, and it’s important to update it when you feel like it no longer reflects your wishes.


Partner with Atkinson Law. We’ll Take Care of You Like Family


At Atkinson Law, we listen to all our clients and protect their interests so they can receive a positive legal outcome.  We’ll work with you and give you the best possible recommendation for your future. To learn more about veterans and criminal justice, contact us today by calling (410) 882-9595 or visiting our website.