Has your will expired?

If a will has been validly executed, it will never technically expire. However, our individual circumstances can, and do, alter over time, which means an unchanged will may not continue to meet our needs.

Consider the following questions to establish whether or not your will remains up-to-date with your needs:

• Have you moved, especially to another state?
• Has an immediate family member died or become incapacitated?
• Have you, or any of the people named in your will, married, divorced, or had a first child?
• Have you changed jobs or retired?
• Have all your children reached age 18?
• Are the people given responsibilities in your will (such as executor, trustee, guardian) still appropriate to perform these functions?
• Do you need to take into account any individuals who will require additional care or financial assistance?
• Have five years elapsed since you last reviewed your will?
• Have changes to tax law significantly affected your lifestyle or lifestyle planning?
• Are you interested in leaving a legacy through a charitable gift in your estate?

If you answered "yes" to any of the above, you should review your will (or living trust) to make sure it continues to meet your needs.