When and How to Update Your Will 

When to Update Your Will
Here are some circumstances that make it vital to update your will:

  • You want to name a different executor, trustee or guardian.
  • Your assets have significantly increased or decreased in value.
  • You've moved to another state.
  • Your situation or a beneficiary's situation has changed. Has your family changed because of marriage, divorce, birth, adoption or death?
  • You want to include a gift to us in your will. Consider leaving us a percentage of your estate or the balance remaining after bequests are distributed to your loved ones.
  • The estate tax laws have changed. Check with your estate planning attorney to make sure your estate plan is up-to-date with any federal estate tax law changes.
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When changes occur in your life, remember to update your estate plans for assets not controlled by your will. For example, you may need to change beneficiary designations on your retirement plan assets or life insurance policies.

How to Update Your Will
Step 1: Get a copy of your current will.
Step 2: Mark the areas you'd like to change.
Step 3: Meet with your estate planning attorney to draft and prepare your new document.
Step 4: Consider discussing changes with us if they may affect Willamette University.

Contact your estate planning attorney if you have additional questions on updating your will. If you are considering including a gift to us in your will, please contact Lori L. Hoby at (866) 204-8102 or lhoby@willamette.edu.

If you are working with your attorney to include Willamette in your will or living trust, or if you would like to name Willamette as beneficiary of a retirement account or life insurance policy, we recommend that you use the following designation: ? "to Willamette University, a nonprofit corporation located in Salem, OR ?" We encourage you or your attorney to contact one of our gift planning professionals to help you ensure that your bequest best accomplishes your intentions regarding Willamette.