Keeping an Estate Plan Updated in Palm City

Whether you are dealing with a divorce, an unexpected death, or a simple change in your will, keeping an estate plan updated in Palm City is invaluable. Life can happen at any moment. To account for anything unexpected, it can prove beneficial to work with an experienced attorney who can plan with you.  There are times when it becomes necessary to revoke estate plan documents.  Reach out today to preserve your future with the help of a legal professional.


Circumstances Under Which a Person Should Review an Estate Plan

It is a good idea to have an estate plan reviewed with an estate planning lawyer once every three years. With that being said, anytime there are significant changes in a person’s life, be it marriage, divorce, the birth of another child or grandchild, or some major financial event, a person’s plan should be reviewed to make sure that it is still sufficient.

An attorney generally recommends that someone updates their estate plan once every three years, but the answer will depend upon the person and their wishes.

How Changing Jurisdiction Impacts an Original Estate Plan in Martin County

When there is a change in jurisdiction involving a new state or a country, the plan should be carefully reviewed by local counsel in the new jurisdiction to ensure that it is still an adequate fit. Local counsel will review things such as tax implications, personal representative qualifications, and document execution requirements as part of this review. Keeping an estate plan updated in Palm City is well within the power of an experienced attorney.

Parts of Plans that Require Upkeep and the Role of an Attorney

The parts of an estate that require the most upkeep vary greatly for every client. Some clients tend to change beneficiaries in their will or trust every year or two. Others may be comfortable keeping distributions the same for many years but desire to revisit health care decision-makers on a more frequent basis.

The role of an attorney is really to make sure that the current plan is still a good fit for a client. Part of that review involves looking at the consequences if something unfortunate would happen to the client, whether be incapacity or death. If the consequences at that point are not desirable then the plan probably should be revised.

It does not have to be complicated, but the level of difficulty often depends upon the client’s wishes and whether the client is likely to face a potential estate tax issue.

Speak To a Dedicated Trust and Estates Attorney for Legal Help

Planning for the future is hard. With uncertainties everywhere, keeping a “silver-bullet” of a plan can prove nearly impossible. In fact, keeping an estate plan updated in Palm City is almost a requirement simply because of how life can change in an instant. When life does take an unexpected turn, it can be beneficial for you and any relevant party to work with an experienced attorney who can help. Reach out today to begin a confidential consultation and see what you can do to update your plan and keep better prepared.

Main Menu