Everything Probate
July 29th, 2023
Maybe you thought that creating a Will or Trust is something you can do once and then your family and assets are protected forever after.
It seems to be how most lawyers structure their services, so it wouldn’t be surprising if you did think this. You work with your lawyer, they draft documents, you bring them home in a binder or notebook, put them on a shelf or in a drawer, and you never hear from them again. Estate plan, done. But, it’s not. Thinking of it this way could leave your family with a big mess when something happens to you.
In reality, life events can drastically affect your estate plan and even cause your plan not to work in the way you intended. To make sure your plan remains up-to-date throughout your life, we recommend reviewing your plan at a minimum of every three years. Because I am so passionate about this, I offer to review my clients’ plans every three years for free.
And, if any of these ten life events happen before your three-year plan review, you’ll want to have your plan professionally reviewed right away.
Let’s take a closer look at these ten life events and how they can affect your estate plan and what changes may be required.
Your estate plan is the foundation that protects your family and your finances today and in the future. But estate planning is not a set-it-and-forget-it task; rather, your estate plan should change and evolve with the changes in your life. If you’ve recently experienced a significant life event or it’s been a while since your last estate plan review, now is the time to review your plan. If you haven’t created an estate plan yet, it’s better to plan early than to have no plan at all.
