My Estate Plan Has a Mistake In It. What Do I Do? First, don't panic. It is often common to find a mistake or error in your estate plan, especially when you've created your plan yourself or used a website or self-help product. Second, the kind of changes you can make will depend upon the kind of mistake that was made and what you want to change. Let's look at some common scenarios. Scenario 1: I left somebody out of my will. The situation is very easy to fix. The most common way to address someone left out of your will is to simply create a new will. You'll have to go through the same process you did before and make sure you comply with state law, but once you sign your new will, your old will become revoked. You may also be able to address this problem by creating a codicil, a document that changes the terms of your current will without revoking it. Scenario 2: I changed my mind about my medical directive. This is also a fairly common change that is easy to accomplish. All you need to do is create a new medical directive that includes your new desires. Barring that, you can always express your wishes directly to your doctor and he or she must follow them. However, if you have a medical directive and have changed your mind or left something out, it's always best to create a new one. Scenario 3: I changed my mind about my trust. Modifying a trust is a little more difficult to accomplish in some situations. If you've created a revocable living trust, you can change its terms whenever you like. However, if you created an irrevocable trust, you can usually only change administrative terms and not those that are substantive. Experienced estate planning attorneys Grand Forks ND of the Raymond J. German, LTD. offers estate planning and business planning resources to residents of Grand Forks ND. To learn more about these free resources, please visit www.raygerman.com/ today.
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