Reasons to review your will

Life is ever-changing and probably your circumstances and planning needs are too. Here are some common situations in which you may want to reevaluate your will:

You get married. You may think your new spouse automatically inherits everything you own should something happen to you. That may not be true! State laws vary, so your new spouse might not automatically become your primary heir. To leave all or some of your property to your spouse, you may need a will. If you are living with someone but are not married and you want your significant other to inherit any of your property, you may need a will.
You become a parent. If you want to name a guardian for your minor children if anything happens to you, you may need a will.
You get divorced. Typically, you will need a new will because in most states a divorce automatically revokes the provisions of a will that apply to a former spouse. In some states, a divorce revokes the entire will.
You remarry. If you want to provide for your new spouse and still be certain your children are taken care of, you will need to revise your will.
You retire (or move) to another state. You will need to have your estate-planning documents reviewed in light of that state's laws and your current needs.
Your spouse dies. You'll need to get a new will and update all planning documents.

When life circumstances change, updating your will is just one important thing to do. Typically, you will need to make sure your life insurance beneficiary designations are up-to-date along with your IRA and 401(k) plan designations. You should revisit your estate plan along with all of your planning documents, such as your advance medical directives, trusts and the like. Speak with your tax/legal professional and call me. I can help you sort through the seemingly complicated maze.

Jerome Dickson
Farmers Insurance Agent
102 Washington Ave S
Orting, Wa 98360
(253)321-4240
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