Ensuring Your Wishes Are Upheld
Understandably, change is inevitable, and staying on top of your estate plan is important. If you live in Colorado and need to change your will, there are specific steps you must take to make sure the process is done correctly. It's essential that you understand all aspects of the legal process involved with changing a will or other documents related to an estate plan in Colorado. In this blog, we'll discuss how to change your will in Colorado so you can ensure everything is appropriately updated according to state laws.
When changing your will in Colorado, it's essential to understand the legal paperwork involved. A change to a will in Colorado requires one or more codicils. This legal document attaches additional clauses to modify an existing will. The change may be small or significant - such as adding or removing a beneficiary or changing the amount of an estate left to someone. The change must be done in writing, signed by the testator (or anyone else with legal authority), and witnessed by two people who are not beneficiaries of the will. In addition, the change must also meet other requirements specified in Colorado law.
It's important to note that if the change you wish to make is significant, then it may be beneficial to create an entirely new will. This is because codicils are only suitable for minor changes and may not stand up in court if there are legal disputes surrounding the change.
Creating a New Will
If you create a brand new will in Colorado, you'll have to go through the same steps as if you were making one for the first time. This includes having it written, signed, and witnessed per state laws. You can either update a pre-existing will or create an entirely new one based on your current wishes and situation.
Making Sure Everything is Up-to-Date
Once your change to the will has been made, it's important to ensure that all other documents related to your estate plan are also up-to-date. This includes powers of attorney, living wills, and funeral wishes. While these may not change significantly with a change in the will, it's still essential that you double-check every document to make sure everything is in order.
You must also change any financial accounts or other properties listed within the will. For example, if you change your beneficiary for a bank account or retirement plan, then it's important that you update those documents as well to avoid confusion and legal disputes down the line.
Work With a Colorado Estate Planning Attorney
Changing your will in Colorado is a complex process that should not be taken lightly. It's important to understand all aspects of the change you wish to make and any legal paperwork associated with it. Make sure you consult a qualified lawyer before making any changes to your will or estate plan.
At Drexler Law, our team can help ensure your will is up to date and that your wishes will be upheld if the unexpected occurs. Learn more about how we can help or schedule a consultation by calling (719) 259-0050 or visiting us online.