You may have been putting off estate planning because you are busy or anticipate your situation will change, and then you will have to discard provisions in a will or trust that no longer apply to you. However, nobody is guaranteed a set number of years, and planning now for the inevitable is wise.
If you fail to make a will, the state will determine how your assets are distributed after you die, meaning the people you care about most could be excluded. Wills can be amended or revoked with little effort, and the law even takes care of some issues if your situation changes. To discuss the revocation of a will in Lake St. Louis, contact an experienced wills attorney to schedule a consultation.
Why People Need Wills
The maker of a will retains the right to grant their assets to the loved ones they choose and name a personal representative to oversee the distribution. Additionally will makers can name guardians for minor children, and charities can receive gifts. Testators, those who make a will, can even provide care for a beloved pet should the pet outlive them by setting up a trust within the will. Wills can also establish other trusts that do not take effect until the testator’s death.
Testators must be at least 18 years old, with exceptions for emancipated or married minors or those on active duty, and they must be mentally competent. The testator must sign the will or direct someone else to sign in their presence, and the will must be witnessed by two people who are not beneficiaries. In most circumstances, the will must be in writing, not oral or handwritten.
Revoking a Will
Revoking a will means the testator no longer wishes for the probate court to rely on it, and the will becomes null and void. Revocation can occur at any time for reasons the testator determines. This is done by:
- Executing a new will in which express revocation language should be added so there is no mistake about the testator’s wishes
- Burning the will
- Tearing the will up and disposing of it
- Obliterating the will by writing VOID on every page or crossing out the signature
- Partially revoking a will by scratching out the provision the testator wishes to revoke from one beneficiary and adding it to another beneficiary’s bequest
- Adopting another nuncupative (oral) will if revoking a nuncupative will
Many testators who leave substantial assets to a spouse during the marriage and then divorce that spouse should know the state automatically revokes bequests to ex-spouses. It is best to seek the advice of a lawyer in Lake St. Louis about revoking a will.
When a Will Cannot Be Found
When a family cannot locate a will after the testator dies, the courts will presume it was revoked. This presumption can be overturned when witnesses have seen the will, and the bequests are what the testator intended, but somehow the will is lost. If the will was last seen in the hands of someone adversely affected by it, the court could determine it was purposely destroyed.
Seek Legal Help for a Revocation of a Will in Lake St. Louis
Because you can distribute assets when you engage in estate planning with a lawyer, you should consult your lawyer when you wish to change a provision in a will. You can revoke your will, when you fail to make revocation clear, it could be assumed lost and your wishes could be overruled.
By working with an estate planning attorney, your wishes are expressed and kept up to date. When your circumstances change, your attorney can guide you to draw up a new document or if there should be a partial or complete revocation of a will in Lake St. Louis. Contact us today and schedule a private meeting.