Like spring cleaning, updating your Will may seem like one of those periodic chores you’d rather avoid. But it’s especially important to review if you’ve had even one significant life change in your family recently.
Your Will answers many key question about your wishes for you and your family. West Hunsaker, attorney with the law firm, Morris Hall, says those questions include: “Who will be the guardians of your minor children? You’ve also got to think about who is going to take care of the finances for those minor children? Then most importantly… who is it that your estate’s going to go to, and how is it going to be handled?”
Your Last Will and Testament usually includes a couple of documents, including a power of attorney and a medical directive that takes effect if you become unable to manage affairs yourself during your lifetime. Your decisions will probably be different at different times in your life, and will also depend upon the laws at that time.
If you’ve had a child, started a business, retired, lost a loved one, moved to a different state, gotten a new job or had any other major life event recently, it is time to revisit your plans. West recommends you review your Will every two to three years. “I can’t tell you how many times I have sat down with someone and the people named as personal representative and often as beneficiaries are not even in the picture anymore.”
Your Last Will and Testament is a powerful tool for sharing your values with family, taking care of loved ones, making a lasting contribution to organizations and causes you believe in, like Phoenix Children’s Hospital. Make sure yours is up to date. And contact us, using the form below, for more information on including Phoenix Children’s in your plans or for a list of professionals who can help you review those plans.
Complete the form below to get step-by-step guidance about including a charity like Phoenix Children’s Hospital in your will: