Can You Remove Someone from Your Estate Plan in New Jersey

Many people assume that estate plans are “set in stone” once completed, but this isn’t true. As we move through life, changes often occur that make it necessary to review your estate plan and ensure it still aligns with your current wishes.

There are a number of common reasons to consider such a change, including:

·       Family disagreements

·       Divorce or remarriage

·       Shifting relationships with children

However, these are just some typical examples. Everyone’s life and circumstances are unique, and the reasons you may want to change a previous estate plan might be entirely specific to you.

So the question remains: can you change your plan once it’s been finalized?

 

Short Answer: Yes, You Can

Generally speaking, as the creator of an estate plan (sometimes referred to as the “testator” or “grantor”), you have the ability to update, amend, or revoke any part of your plan that no longer aligns with your wishes.

In fact, this is quite a common scenario for estate planning attorneys in New Jersey to encounter. As estate planning attorneys, we recognize that things change over time, and we try to anticipate those changes when drafting a plan.

However, we also know that many clients will need to revisit their plans as their lives evolve. This is why I recommend reviewing your estate plan every three to five years with your attorney, as they are best equipped to identify potential issues and opportunities for improvement.

If you take nothing else from this article, remember this: a well-drafted estate plan is designed to evolve alongside you as your life changes.

 

How it Works

This article isn’t intended to be a step-by-step guide to amending a will or revoking a trust, so we’ll keep the specific mechanics of this process light. Anyone seeking to make a change should consult with an attorney to ensure everything is done correctly and with their intentions in mind.

However, it’s worth explaining the basics at a high level.

Last Will and Testament

A will is your set of instructions for who is to receive your probate estate upon your passing. Most attorneys include language at the beginning of a new will to revoke all previous wills and codicils (amendments to wills). If your current will includes this language, it means that any prior versions are already invalid.

If you’re not looking to completely revoke a will, you can also update it through a codicil, which allows you to modify an existing will without replacing the entire document. This method can be used to:

·       Change a beneficiary

·       Update an executor

·       Modify a specific gift

·       Remove or add provisions

Importantly, any codicil must be executed with the same formalities as a will.

 

Revocable Living Trust

As its name suggests, this type of trust can be revoked by its grantor (the person who created the trust). This is often done by expressing the grantor’s intent in writing.

This process can be more complex than updating a will, as it requires reviewing the terms of the trust and may involve transferring assets out of the trust. It’s always best to consult with an attorney when considering changes to a trust.

Powers of Attorney

Powers of attorney authorize specific people to manage aspects of your life when you are unable to do so. This typically includes financial and healthcare decisions.

Revoking these documents is usually straightforward and involves providing written notice to the current agent. However, this can only be done while you still have capacity.

Important Considerations When Altering an Estate Plan

Once you’ve decided to make a change, it’s important to ensure it’s done properly. To do so, confirm that changes are:

·       Clearly documented

·       Legally valid

And avoid:

·       Handwritten edits

·       Informal notes or assumptions

You should also review beneficiary designations when making changes. Again, I strongly recommend working with an attorney in these situations.

 

Can Any Lawyer Update My Plan?

Generally speaking, as long as the attorney is licensed and in good standing in your state, they can update your plan. In practice, however, many attorneys are reluctant to do so.

This comes down to what it means when a lawyer signs off on changes. They are not just confirming that an amendment is valid, but that the entire document works properly with that change and reflects the client’s wishes.

Because of this, an attorney typically needs to review the entire document carefully. Estate planning documents are not all written or structured the same way, and each attorney has their own drafting style.

As a result, reviewing and modifying another attorney’s work can take as much time as starting from scratch. For that reason, many attorneys will recommend creating a new set of documents instead.

If you return to the attorney who originally drafted your documents, updates are often more straightforward and cost-effective.

Conclusion

If you created an estate plan years ago, it’s likely you’ll need to update it as your life evolves. This is normal, but it requires careful consideration.

Often, what seems like a minor change is actually a sign that your overall plan should be reviewed. If you’re unsure about your situation, you can schedule a consultation to discuss your options.

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