August Is “National Make A Will Month”

I just finished reading my AARP Magazine and found out that August is “National Make a Will Month.” For me that triggered an idea for this article and for all of us to answer the following questions. I have read that less than 40% of adults have Wills in place.

Questions to consider:

• Do you have a Will?
• Do you know where the original Will is located?
• When was the last time you reviewed your Will?
• Do you have the correct beneficiaries named in the Will?
• Do you have the correct Executors named in the Will?
• Have your assets changed that could affect your Will?
• Have some of the beneficiaries named in the Will died?
• Did you properly provide for your minor children?
• If you are divorced, did you remove your ex-spouse from the Will?
• Have you reviewed your Will with any of your beneficiaries?
• Have you told your beneficiaries where the Will is located?
• Can your beneficiaries access the area where your Will is located?
• Do you want to name a charitable organization as a beneficiary?

As you can see, there are many questions that need to be answered and reviewed. There is a report that states that 50% of Wills are out-of-date and/or problematic.

I suggest to my clients that they review their Wills and estate planning documents every 5 years or when there is a life-changing event.

Even though August is “National Make a Will Month,” let’s add to that statement “… And the Month to Review and/or Update Your Will.” I have seen many Wills fail because they are out-of-date or just plain wrong. Many people try to write their own Wills and many people fail at this task. Please contact an attorney well versed in this area of the law.

Questions, comments or ideas about future articles contact me at jurban.GCU@GCUusa.com

Atty. John J. Urban