The contents of your will must be tailored to your particular circumstances. Take into account:
- your current family situation
- your marital status
- your family’s needs
- the value of your estate
- the type of assets in your estate
- what you have in mind for your estate
You may also want to:
- make sure you have enough liquidity to pay off outstanding debts and any estate taxes
- determine who will take care of minor children
- do your best to avoid family squabbling
Upon your death, family members will be grateful to you for being proactive and making sure no detail was left out during estate planning.
Changing or replacing a will
Wills can be revoked at any time.
You should revise your will anytime your personal situation changes, such as when you buy a home, have a child, or come into a substantial or unexpected sum of money.
If you have assets outside the country, it’s in your best interest to write a second will that disposes of these assets only.
Find out more –Read A second will if you have assets in the Unites States.