What is the best course of action for Ram and Leela now that they have a child?

What is the best course of action for Ram and Leela now that they have a child?

• A. Make an interlineation in each will to include Laxmi
• B. Create new wills, revoking the old ones
• C. Appoint a guardian for Laxmi using a document
• D. Leave the wills untouched based on provincial laws

Answer: (B)

Creating new wills to revoke the old ones is indeed the best course of action for Ram and Leela now that they have a child. When significant life events occur, such as the birth of a child, it is essential to ensure that estate plans reflect current wishes and circumstances. By drafting new wills, Ram and Leela can explicitly include their child, Laxmi, as a beneficiary and outline their intentions regarding guardianship and asset distribution in a way that properly addresses their family’s current situation. This approach allows them to establish comprehensive provisions for Laxmi that were not necessary before her birth, ensuring her welfare and financial security are prioritized. Attempting to make interlineations in existing documents or leaving the wills untouched might lead to confusion or legal complications. Such changes or inactions could potentially create ambiguity regarding their intentions, leading to disputes or unintended results that may not align with their wishes. Creating a new, clear, and comprehensive will mitigates these risks, ensuring that Laxmi is accounted for properly and comprehensively in their estate planning.

Creating new wills to revoke the old ones is indeed the best course of action for Ram and Leela now that they have a child. When significant life events occur, such as the birth of a child, it is essential to ensure that estate plans reflect current wishes and circumstances.

By drafting new wills, Ram and Leela can explicitly include their child, Laxmi, as a beneficiary and outline their intentions regarding guardianship and asset distribution in a way that properly addresses their family’s current situation. This approach allows them to establish comprehensive provisions for Laxmi that were not necessary before her birth, ensuring her welfare and financial security are prioritized.

Attempting to make interlineations in existing documents or leaving the wills untouched might lead to confusion or legal complications. Such changes or inactions could potentially create ambiguity regarding their intentions, leading to disputes or unintended results that may not align with their wishes. Creating a new, clear, and comprehensive will mitigates these risks, ensuring that Laxmi is accounted for properly and comprehensively in their estate planning.