When Firefighters Should Update Their Will

What’s the thing you look forward to the least in life? Paying bills, going to the doctor, and running errands—they’re all at the bottom of our lists. But those tasks pale in comparison to writing a will. However, that’s not the end of the story; it needs to be updated regularly after every major life event. The consequences go far beyond the wrong person ending up with your belongings. In fact, your will can even affect you while you’re still alive in ways you probably aren’t aware of. Unfortunately, nearly a third of Americans – 32% – don’t have a will in place¹, often due to practical concerns such as a lack of assets, financial constraints, or simply putting it off. As a firefighter, given the realities of your job, keeping your will updated to reflect your current wishes is especially important – the reasons for which we’ll detail below.

1. Getting Married

Once you get married, everything changes. All of a sudden, your tax situation, how assets are titled, beneficiary designations and even your retirement plans can shift. You’ll have to merge your finances and update your financial plan and a slew of other documents, and once all is said and done (or perhaps even earlier), you’ll need to make sure your will reflects your new reality. Without one, your spouse may not be automatically entitled to inherit your assets. If you’re not married but still want your partner to be a beneficiary in your will, you should explicitly state that fact. Also, if you’ve already gone through a previous marriage, you may want to remove your previous spouse from your will, though it, of course, depends on your preferences.

If you do fall in the line of duty, your surviving spouse may be eligible for survivor benefits², so be sure to have that researched as well and incorporated into your will and financial plan.

2. Welcoming a Child

Having a child is a change even greater than marriage, bringing new responsibilities beyond just yourself. Your will should reflect this new chapter and adapt as your family grows or as your children’s circumstances evolve.

Whether through birth, adoption, or marriage, updating your will to include your children is absolutely essential. Step-children and step-grandchildren are not automatically included in the inheritance process, so it’s important to clearly state your intentions if you wish to provide for them.

As your children grow, so do their needs. For younger children, it’s crucial to designate a guardian in your will. Over time, your choice of guardian might change—for example, when an older child becomes mature enough to care for younger siblings. Alternatively, if your chosen guardian passes away, becomes incapacitated, or simply drifts out of your life, you should not delay updating your will.

It’s also wise to consider adjusting any age-based inheritance conditions. For example, you may want to defer a large inheritance until they’re older or modify stipulations based on their life choices. For example, if there was a stipulation that they get a specific amount of their inheritance only if they go to college, but then they go career military, and that’s sufficient for you to change your mind about the college-based stipulation, you should reflect that in your will.

If one child becomes financially independent while another still requires support, you might adjust the distribution of assets to reflect your current wishes. Be aware that if you intend to intentionally exclude a child—whether minor or adult—from inheriting specific assets or property, it’s crucial to explicitly state this in your will. Simply omitting their name is not sufficient, as the probate court may interpret the absence as an oversight rather than a deliberate decision.

3. Loss of Key Beneficiaries or Fiduciaries

The passing of a beneficiary, guardian, or fiduciary—such as your executor, power of attorney, or trustee—requires an immediate update to your will. If a beneficiary you’ve named in your will or on an account (like a bank account) passes away before you, that asset typically reverts to your estate. To avoid complications, it’s wise to designate a secondary beneficiary for each asset.

Similarly, if a fiduciary you’ve appointed, such as an executor or guardian, passes away, you’ll need to select a new individual to take on that role. As mentioned earlier, if the guardian of your minor children passes away, it’s critical to update your will promptly. Failing to do so could leave your children without a designated guardian, potentially placing them in the foster system.

4. Changes to Financial Situation

Finances can fluctuate over time—sometimes, you’re riding high, and other times, things can be tight. Whether you’ve received an inheritance, your investments have taken off, or you’ve experienced a significant change in wealth, it’s important to update your will to reflect these changes.

For example, if you’ve come into substantial financial success, you might decide to include additional beneficiaries such as charitable organizations, distant relatives, or close friends. Alternatively, if you’ve lost a significant amount of money or assets, you may need to update your will and reallocate what’s left to your desired beneficiaries.

5. Don’t Forget Your Side Hustles and Projects

Many firefighters take on side gigs or run small businesses alongside their careers—whether it’s contracting, consulting, or another passion project. These side hustles are an important part of your financial landscape and should be included in your will.

If you’ve built a business or have income streams outside of your main job, make sure to outline how these will be handled when you’re no longer around. It’s not just about passing on ownership—who will take over? How will it continue? Along with your will, consider a plan that details how you want things to run after you’re gone.

And if you’ve been contributing to a solo 401(k) or other retirement plans tied to your side business, don’t forget to update your beneficiaries for those accounts, too. Taking care of these details now ensures your side hustle—and the income it generates—continues to benefit your loved ones in the future.

6. Moving to a New State

If you’re relocating to a new state, it’s not just your address that needs updating—your will does too. Each state has its own rules about what makes a will valid, and if yours doesn’t meet those requirements, it could cause major headaches for your family later on.

For example, if your will is handwritten with just one witness, it might not hold up in your new state if they require typed wills and two witnesses. The last thing you want is your loved ones dealing with legal issues just because your will didn’t check all the boxes.

Also, when you move, you might sell or get rid of items listed in your will. To avoid any confusion, make sure your will is updated to reflect any changes. And don’t forget—different states may have varying laws for things like living wills and healthcare power of attorney, so it’s worth giving everything a quick review.

In Conclusion

We get it—updating your will every time something changes can feel overwhelming. You’ve got enough on your plate already. But it’s important to make sure your will keeps up with the big shifts in your life. While you don’t need to revisit it after every little event, it’s a good idea to give it a review when you’re doing a financial check-up—ideally a couple of times a year. That way, you can be sure everything is in sync without breaking the bank on constant legal fees.

At Protection Red, we can help guide you through the process and make sure your estate plan stays up-to-date, tax-efficient, and designed to protect what you’ve worked so hard to build. Ready to get started? Just click the button below to schedule a consultation!

SOURCES:

1. https://www.caring.com/caregivers/estate-planning/wills-survey/
2. https://www.firehero.org/resources/family-resources/benefits/