10 Life Events That Should Have You Revisit Your Will
Generally speaking, any significant change in your assets, marital status, or family relationship qualifies as a good reason to reevaluate your will.
Common life events that alter your relationship with someone else can be good reasons to update your will. Some of these life events might include:
- Having a child
- Adopting a child
- Children growing up
- Getting married
- Getting divorced
- Severing ties with a family member
- Making amends with a family member
- Losing someone close to you
- Changing assets
- Moving to a new state
Even if none of these have happened to you in the recent past, a good rule-of-thumb for revisiting a will is once every three to five years.
It's because our lives can undergo changes that we aren't consciously aware of until multiple years have passed.
Such as buying a car to fix it up as a hobby, and then storing it in a shed and forgetting about it — or discovering an old piece of valuable jewelry while cleaning your home one afternoon.