![]() ![]() For more information on this, please see the guide Last Wills vs. A Living Will, also known as an Advance Healthcare Directive is used to specify who will be in charge of making someone's medical decisions if they are no longer able to do so themselves. Though they are similarly named, a Last Will is different than a Living Will. However, if they would like to leave most of their existing Will intact and only make minor changes, a Codicil to Last Will and Testament document can be used instead. If someone already has a will, they can use this document to completely overhaul their existing Will and replace it. Being of sound mind means that the Testator is aware of what they are signing, know the general nature and amount of property they own, and know the relatives or descendants that would usually be expected to share in the estate. In order to make a Will, the Testator must be at least 18 years old and of sound mind. Desire to add or remove beneficiaries named in a prior Will.Ī Will is an important tool that allows a Testator to make important decisions about how their estate will be handled while they still have the capacity to do so.Birth or adoption of a new child in the family.Death of an Executor, Trustee, Guardian, or significant named beneficiary.Moving to another state (not all states recognize out-of-state Wills as valid).Significant change in amount of money or property owned.Marriage or divorce (a change in marital status may void an old Will).People often create a new Will or update their existing Will for the following reasons: ![]() For more information about creating a complete estate plan, please see the guide Estate Planning 101: Estate Documents Necessary for a Comprehensive Estate Plan. Creating a Will as a part of an estate plan ensures the person making the Will, known as the Testator, will have their wishes followed and that the people closest to them are taken care of. A Last Will and Testament is a legal document that details how a person's assets and property will be distributed after their death. ![]()
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