What did your life look like six years ago?
It was the summer of 2020, in the midst of the COVID-19 pandemic. You might have been working from home, spending a lot of time outside, or learning how to place a grocery delivery order. You may have also used that time to create a will. Way to go! You weren’t alone.
According to a 2021 Caring.com survey, nearly 1 in 2 younger adults were prompted by the pandemic to engage in estate planning. More than a third of those in middle age and 28% of older adults did the same.
What do these past events have to do with the present? If you created a will in 2020 or 2021, consider this your reminder to update it. (And if you haven’t yet created one, now is a great time to start!)
A will isn’t a once-and-done document. Estate planning experts recommend revisiting it at least every five years and making adjustments as necessary. There are other reasons you may need to make an update, including:
- A change in your marital status
- The addition of a child or grandchild through birth or adoption
- A move to a different state or country (laws may be different in your new location)
- A change to your financial situation
- Updates to state and federal estate tax laws (this happens more often than you think)
- You’ve changed your mind about something (a guardian, executor, beneficiary, etc.)
As your life has changed, your thoughts on the legacy you want to leave for your family and loved ones might have changed too. Here are some important questions to prayerfully consider as you update your will:
- Does my will reflect the beliefs and values I want to pass on to the next generation?
- Do my plans align with my family, faith, and charitable goals?
- Does my will reflect my love for my church and favorite ministry organizations?
Including a gift in your will is a meaningful way to express your faith and beliefs while supporting our work for years to come.
Your life likely looks different than it did six years ago. It’s time for your will to catch up.