Update Your Will After Major Life Events

When a new baby arrives, there’s not much time to do anything extra, but if you have a will you should review it and update it as necessary. The Associated Press is reporting that “Heath Ledger’s will leaves nothing to his former girlfriend and their 2-year-old daughter because it was never updated after they became part of his life.”

This randomly Googled legal firm’s website says any of the following events are good times to review your will and consider whether it should be changed:

  • any property you own increases or decreases in significantly in value;
  • you move to another state;
  • estate tax laws change;
  • there are changes in your family;
  • there are changes in your selection of “guardian, personal representative or trustee;”
  • “there are changes in the way in which you own property;”
  • your personal wishes have changed.

The AP article says Ledger left everything to his parents and sisters, but that “Kim Ledger, the actor’s father, has said the family would make sure the actor’s former girlfriend, actress Michelle Williams, and that their 2-year-old daughter, Matilda Rose, would be provided for.”
Update: for even more details and advice, check out the comment by reader Eyebrows McGee, a real life lawyer type, below.

“Ledger’s Will Leaves Nothing to Daughter” [Associated Press]

“When to Update Your Will?” [Askegaard & Robinson, P.A.]
(Photo: Getty)