NOW THAT YOU HAVE A WILL…
Here Are a Few Things You Need to Know About Your Will. Where should you store it? Who should know it exists? How do you change your Will.
WHERE SHOULD I KEEP MY WILL?
You should keep your Will in a safe, but accessible, place. I normally recommend that you keep it in a safety deposit box in your bank, or in a safe place in your home. A secure location is extremely important. If you name a bank as your Executor, you could let the bank keep the original Will in it’s Will vault.
I also suggest that you keep a photocopy of your Will at home for reference and annual review. It always makes sense to review your Will and make changes as your life continues to change.
WHO SHOULD GET COPIES OF MY WILL?
It is not necessary for anyone other than you to have copies of your Will. If you wish, most attorneys would be glad to make copies for anyone you desire, but remember if you change your Will, the copies of the old Wills could be embarrassing to you.
WHAT ARE SOME CHANGES THAT WOULD CAUSE ME TO REVIEW MY WILL?
The answer is: death of a beneficiary, marriage, divorce, or remarriage, birth or adoption of a child, death or change of Executor, and death or change of children’s guardian. It is also advisable to change your Will when you change your mind about distribution, if there is a significant change in your assets, if you retire, if you inherit, or receive assets as a gift, and finally, any time you feel uneasy about your Will.
HOW DO I CHANGE MY WILL?
Do not write on the Will. Changing your Will is often done by a Codicil. However, if you are changing beneficiaries or changing the amounts being given to beneficiaries, it is a better practice to redo the Will. The fee for redoing your Will is usually the same as for adding a Codicil. I recommend that you contact us if you want to make any changes and to make certain all changes are legally made.
HOW DO I REVOKE MY WILL?
The best way to revoke a Will is to tear up the original. Normally you should not revoke your Will unless you are having a new one prepared. If you revoke your Will and die without one, your property will be distributed according to State Law, and that may not be the way you want.
SHOULD I TELL MY PERSONAL REPRESENTATIVE WHO MY ATTORNEY IS?
Yes. In case you die, your Personal Representative should know who your attorney is in case your Personal Representative has questions to direct to your attorney.
WILL MY CONNECTICUT WILL BE VALID IF I LATER MOVE AND BECOME A RESIDENT OF ANOTHER STATE?
If you execute a valid Connecticut Will while you reside here and you later move to another state, you should have your Connecticut Will reviewed by a lawyer in the state to which you moved to ensure it is valid in that state.
A Will that is valid in Connecticut may be valid in another state where you may afterward move. However, because the laws in all states are different, you should have your Connecticut Will reviewed by a lawyer in that state to which you moved to ensure it is valid. Most states have adopted the Uniform Wills Act. One of the provisions of this Act is that if your Will is valid in Connecticut, it is good in the state where you move. However, it is always worth checking.
WHAT IF I HAVE OTHER QUESTIONS ABOUT MY WILL?
Feel free to call us. I am glad to answer your questions.