Creating an estate plan can feel like an overwhelming process. While you may not feel specific urgency to complete your plan, you know it will make the probate process simpler for your loved ones if you have a valid and thorough estate plan.
There are many options for do-it-yourself wills, but they can come with many complexities that could add challenges for your loved ones. It is essential to get support when you are creating your estate plan to reduce potential problems at probate.
These are some of the most common mistakes that can create issues with your will.
Your will is an important document. In some cases, if there are questions about how you distributed your assets, some of your loved ones may raise questions about whether certain aspects of your will were valid, including your signature.
In Colorado, your will needs to include your signature, whether you create it yourself or a professional creates it for you. If you are physically unable to sign your will, you can give someone else permission to sign it in your “physical and conscious presence.”
Forgetting to update
Your will is not something that you create one time and never touch again. As your life changes, you will need to make updates to your will and other estate planning documents.
Critical changes, such as moving or buying or selling a home, can significantly impact your will. Even if you think you have not had any major life changes, you should look over your will every two to three years to ensure your plan still has accurate language for where you live and reflects your assets as well as your wishes.