If there is one constant in life, it is that life is sure to change over time. People get married and divorced. They add to their family with children and grandchildren. Unfortunately, they lose other cherished family members along the way.
It’s crucial to account for monumental life events in your estate plan. The question for many people is how to ensure that their will and other documents reflect these changes.
What are your options?
Generally, there are two ways to update the provisions in your will. You can add a codicil or supplement to your existing will or replace that one with an entirely new document.
Your decision will likely depend on the scope of the changes you want to implement. For example, if you need to make many updates or significant alterations, you may want to start fresh with a new will. Having experienced legal guidance can help you choose the wisest option.
How can you revoke a will?
Under Texas law, you (the testator) may cancel or destroy your will or have someone else do so in your presence to revoke its contents. Burning or shredding it are two ways to dispose of an outdated will. Executing a new will also cancels and revokes the previous document. Whatever method you choose, disposing of the old document is good practice to avoid legal issues.