Some people put off making a will because they think that they should wait to do so. They believe if they make a will now, it will soon fail to reflect their interests accurately. They expect things in their life to change. Perhaps they are waiting till they have children, till they build a healthier bank account or have a house to leave someone.
However, waiting is a mistake. You never know how long you will live, and dying without a will is going to make things more complicated for your family and mean you have no control over who gets whatever assets you own when you’re gone.
Yes, you can change your will
It is better to make a will now so you have something in place. You can change it when those events you were waiting for (or others of significance) happen. There are two ways to do this.
You can either make a new will or make an addendum (known as a codicil) to the current one that outlines the changes. Whichever path you choose, you need to make it clear what you are doing. Otherwise, confusion could reign when people examine your will after your death.
Codicils can work for small updates, but having too many could become confusing, especially if you fail to realize they contradict each other in some way. New wills require more work but provided you make it clear they supersede any previous versions, should paint a clearer picture for those you leave behind.
Seeking legal guidance to appropriately document your wishes and comply with legal requirements, such as having these documents witnessed, is crucial as you move forward. And once you’re done, you can update your will as often as you need to, provided that you do so in enforceable ways.