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Triggers that tell you to write a will

| Aug 1, 2016 | Wills |

Eventually, most people come to the realization that they should write a will. However, there is no legal requirement here, so you’re not going to hit some magical age when it all makes sense and you know it’s time. Below are a few natural triggers that you may run into in life that can indicate that it’s time to get your desires down on paper.

— Getting married or remarried. You need to make sure that your will is up to date with your latest spousal information. This is especially important for a second marriage when you have children from the first.

— Splitting up. Likewise, if you and your spouse break up, be sure you adjust your will so that your assets aren’t just going to your ex.

— Launching a business. This can give you a lot more assets — and a lot more debt. You may also want to address how ownership of the business itself is going to pass from you to a beneficiary.

— When your children are born. At the very least, you need to make sure that the assets that you’ve acquired go to your children. Never just assume that they will.

— When your children aren’t yet 18. If your kids are 18 or older, they can take care of themselves. If they’re younger, though, you may need to make arrangements for them, like naming a legal guardian.

— Buying any large assets. Even if you have a will, if you buy something significant — like a new home or a vacation home — make sure it’s updated. If you don’t have one, consider writing one.

As you run into these trigger events in your life, be sure you get that first draft written or update your will in Arizona.

Source: Huffington Post, “When You Should Write a Will,” Brian Sweigman, accessed Aug. 01, 2016

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