Do You Need to Update Your Will If You Have Another Child?
Depending on the terms of your original will, the birth of another child could be an ideal time for you to revisit and update your estate plan. It is not always necessary, however. With the assistance of your attorney, you can determine whether it is a task you need to complete.
Here are some circumstances in which you should update your will after the birth of a new child:
- Your current will does not provide for afterborn children.
- Ensure your guardianship nomination for your minor children apply to all of them and that your initial guardian would be capable of handling that responsibility.
- If you do not wish to divide your assets among your children equally, the birth of a new child is a situation in which you should modify your will to reflect that wish.
- There are additional changes that you want done.
If nothing else, the birth of a new child is at least a good chance for you to meet with your attorney to review your existing estate plan. It may be that no changes are necessary, but it is best to get a refresher on what you already have in writing and to be alerted to any potential changes you may need to consider in the future.
For more information about updating or adjusting an estate plan, contact an experienced Tampa, FL attorney at BaumannKangas Estate Law.