There are a lot of common misconceptions about creating a will, one of them being that people don’t need a will while they are young. It may be a good idea to create a will early in one’s adult life because even though a will is a legal document, it can evolve over the course of one’s life. There are many different times throughout an individual’s life where they find they may need to modify a will.
If an individual creates his or her will when they are unmarried, do not have any children, and only have a few assets, it may need to be updated as the years pass. So, if a couple of years after the will is created, the individual gets married, they may want to add their spouse as a beneficiary. If they have a child in the future, they may want to add the child as a beneficiary. In addition, they may want to appoint a guardian for their child.
The bottom line is, a will is an ever-changing document and it is important to keep it as up to date as possible. It should be updated when someone gets married, divorced, has a child, gains an asset, or relations strain between beneficiaries.
Juan C. Velasco, Esq. is a trusted attorney who concentrates on bankruptcy, family law, real estate, and estate matters who has been serving the New Jersey area for over 25 years. If you are in need of experienced legal counsel, please contact Velasco Law Office and we will be happy to assist you.