4 Reasons To Update Your Estate Plan

If you have an estate plan in place, you have taken a critical and crucial step in properly planning for your family’s future. But even if you have an estate plan, you shouldn’t become complacent. Estate plans need to be reviewed and revised from time to time, especially after major life events or changes. Below are four common reasons you should update your estate plan.

New or Lost Family Members

Death and birth are both parts of the cycle of life and affect our plans for the future. The arrival of a new child or grandchild may be cause to make changes to your estate plan, especially your living will. The passing of a loved one who was included in your will or estate plan should also prompt you to make necessary adjustments.

Marriage or Divorce

Spouses normally play a significant role in an estate plan. If you become divorced, married, remarried, or widowed since your estate plan and/or will was established, you should make the essential updates promptly. Be sure to make any needed changes to your beneficiaries as well.

You Move To Another State

Estate planning laws are not instituted on a national level. They vary state by state. If you create your estate plan in one state and then relocate to another, it is imperative to have an experienced local estate planning attorney review your estate plan and make any necessary adjustments. The number of witnesses, spouse inheritance minimums, and the amount of estate taxes due are just a few of the factors that may vary from one state to the next.

You Have Received Significant New Assets

The addition of significant new assets is a very good reason for revisiting your estate plan. You may want to consider a living trust for some or all of the new assets to avoid probate. At a minimum, it is a good idea to discuss your options with a knowledgeable estate planning attorney.

Contact Us

dots-b
1117 Perimeter Center W
Suite W501
Atlanta, GA 30338

Phone : 404-991-6511
Email : admin@DynamicEstatePlanning.com

Hours :
Monday to Thursday 8 am to 5 pm
Friday 8 am to 3 pm

Service Areas

dots-b
Serving All Of Georgia & Florida,
Including:

Metro Atlanta
Sandy Springs
Dunwoody
Brookhaven
Roswell
Buckhead
Marietta
Alpharetta
Johns Creek
Gwinnett County

Receive News, Tips & More

dots-b
Disclaimer: Submission of a Contact Form does not
constitute an attorney-client relationship with
Dynamic Estate Planning. An attorney-client relationship will be established via execution of an engagement letter with Dynamic Estate Planning.
Call Now Button