A will should be accompanied by other important documents such as healthcare and financial powers of attorney. It should also include an advance healthcare directive). It is a foundational estate planning document. However, according to Gallup, only 46 percent of US adults have a will. This number has remained consistent in Gallup polls dating back to 1990. Ultimately, however, the court can assess will revocation. This blog explains.
What is Will Revocation?
Simply creating a will never finalizes an estate plan. Update your will periodically. Usually, revoking a will is a purposeful act on the part of the will maker. But many states have laws that automatically revoke a will, or portions of it, in specific situations. Certain actions by a beneficiary can also revoke that person’s interest in the will.
What Is in a Will? And What is Revocation?
A last will and testament provides instructions about who should receive a person’s money and property when they die.
- Who receives personal assets (e.g., property, bank account balances, investments, business interests, and personal possessions) and in what amount?
- An executor carries out instructions in the will.
- Guardian arrangements for minor children
When a person dies, their will goes through probate. However, if a person dies intestate (without a will), the court must follow state laws that control the distribution of a person’s assets and the appointment of executors and guardians.
Updating an Existing Will
The court makes amendments using a legal document called a codicil. Like the execution of a will, executing a codicil usually requires that the person who is creating or changing their will sign the will or codicil in the presence of at least two witnesses.
Codicils are something of an anachronism dating to the time before computers, when drafting a new will by hand was more onerous. Nowadays, it is easier than it used to be to create a new will that contains the amended portions. The American Bar Association also cautions that codicils can lead to confusion or legal challenges if they create ambiguities when read together with the provisions in the original will.
Prevent Will Revocation: Discuss with an Estate Attorney
Whether you are making minor changes to your will or destroying the old one and starting from scratch, any revocation of your will must comply with state law. Otherwise, a court might not recognize your final wishes, which can produce consequences akin to not having a will at all and cause your loved ones additional stress and potential conflict.
About Skvarna Law Firm in Glendora and Upland, California
Let a skilled attorney assist with your estate plan. So, contact us today to learn about your options (909) 608-7671. We operate offices in Glendora and Upland, California. Therefore, we provide legal services for individuals living in San Bernardino, Los Angeles, Orange, and Riverside Counties. This includes the cities of Upland, Ontario, Rancho Cucamonga, Fontana, Colton, Rialto, Chino, Chino Hills, Glendora, Claremont, Montclair, Pomona, La Verne, San Dimas, Azusa, Covina, West Covina, Diamond Bar, Walnut, La Puente, Corona, Norco & Mira Loma. Visit SkvarnaLaw.com to learn more.
