Updating Your Estate Plan: How Many Tweaks Are Too Many?

Imagine a recipe card you have used for years.

If you have crossed out and replaced one or two ingredients, the card may still be readable. However, if you have altered the ingredients many times, the recipe card is probably very confusing. If your loved ones cannot read your instructions to determine whether to add a cup of flour or a cup of sugar, your recipe will not turn out well.

The same can be said about a will or revocable living trust. Making one or two changes to a document is generally acceptable, but when revisions are numerous or comprehensive, your instructions may become confusing. The primary reason for confusion is that the old document and any new documents must be read together to understand the full instructions. For this reason, starting over with a new will or a restatement may serve you better.

Although codicils and amendments are generally used to make small changes and new wills or restatements are used for large ones, there is no set rule for making changes to your will or trust. In many cases, a restatement may be even more cost-effective than amendments.

Before you decide whether to make a small change or create a new will or a trust restatement, it is important to determine whether previous changes have inadvertently altered your intent or might adversely affect the will’s or trust’s administration. We will help make your instructions clear.

Whatever your circumstances, rest assured that we can help you determine the best way to update your will or trust. Call us today and we will help ensure that your instructions are up to date and crystal clear.