When you write a will, you are not required to keep the will in place forever. If there comes a time where you feel like you've made a mistake and you no longer want the will in place, one option is to have it revoked. This might be necessary if you've decided that you'd like to add or remove someone from your will, but you can revoke the will for any other reason.
Creating or Changing a Will
The simplest way to revoke your will is to simply write a new will. However, even after the creation of a new will, you'll need to take steps to ensure that the old will is destroyed. When you write a new will, you should have clear language that clarifies that you have a desire to revoke any and all old wills. Also, making changes to an existing will is considered a method of revoking the will.
Selling Assets
If you sell all of your assets before you die, you will be effectively revoking your will. There might be some tax implications afterward, but there is nothing to prevent you from selling you assets beforehand. You'll have to spend your assets to avoid having them go to a beneficiary.
Destroying the Physical Will
You will need to destroy the actual will. You can either destroy the will yourself or have someone else destroy it in your presence. You have the option to tear it, burn it or destroy it using any other means.
Following State Rules
Some states might have specific rules regarding how you are allowed to destroy your will. For example, you may not be allowed to simply draw an X across the will. Also, if your will is digitized, you'll need to delete it.
The Importance of Destroying a Will
Destroying a will is important because some individuals may end up with multiple wills and this can create confusion regarding which will should be followed. Make sure you have identified all of your wills so there isn't one that contradicts a will that is your intention.
The best way to revoke your will is to talk with probate law services. A lawyer who is experienced with wills and other areas of probate law will understand how to revoke your will in a manner that helps you achieve your objectives. You may also want to speak with loved ones before you make this decision.
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