After you create an estate plan, you can sit back and take a deep breath. You now have something in place that answers questions such as:
- What will happen to your assets upon your death?
- Who will provide for you in the event of incapacity?
- Do you know where you want to receive long-term care?
You get the point. An estate plan can answer a variety of questions.
However, don’t become so comfortable with your estate plan that you assume you can leave it as is for the rest of your life. There are times when your estate plan requires attention. Neglecting to take action can inflict unnecessary stress on you and/or your loved ones – and that’s not a risk you want to take.
Here are just a few of the ways you’ll know if your estate plan requires attention:
- You don’t remember the last time you reviewed it
- Something major has changed in your life, such as receiving a large inheritance, having a child or getting married or divorced
- You’ve reviewed it and realize that it no longer suits your every want and need
- Your spouse brings something unexpected to your attention
- A key person named in your estate plan has passed on or become seriously ill
If you have any reason to believe that your estate plan requires attention, don’t hesitate to take action. Review it in full, make note of any changes you’d like to make, and then decide what the next best step is.
Do you need help reviewing your estate plan and considering potential changes? If so, contact our law firm to schedule a consultation with one of our experienced estate planning attorneys.
We’ll work together to not only review your estate plan, but to also adjust it according to your requirements. Upon doing this, you’ll once again have the peace of mind you deserve.
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- How to Know if Your Estate Plan Requires Attention - August 3, 2020