You made a considerable investment of both time and resources when you created a will for your loved ones to follow. That could make you feel like you do not need to change it.
That effort, that investment: These are the precise reasons why you should consider changing your will. Modifying your estate planning documents at key points during your life is one of the most efficient ways to keep everything relevant and effective.
1. Property changing hands
One exceedingly practical reason to change your will is if you no longer have the right to distribute the assets listed therein. For example, you might decide to fund the trust with some of the property you mentioned in your will. You might sell, donate, or gift assets. While it is not necessarily illegal for a will to attempt to bestow something the estate does not have, it does tend to cause friction among heirs.
2. Families changing members
Marriages, adoptions, births, deaths and divorces are all examples of family events that could change the order of intestate succession. Whenever something like this happens, it might be a good idea to look at the customized details of succession in your will.
3. Attitudes changing
Finally, there are some rare times when family members either redeem themselves or do something unforgivable. In these cases, you might want to change your will.
Ohio law provides a small amount of support for you in certain situations when it comes to changing your will. However, it is usually a better idea to be proactive. You have control over how your will changes — you do not have direct control over state law.