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Home » Estate Planning » Do I Need to Update My Estate Planning?

Do I Need to Update My Estate Planning?

June 22, 2011 by John Potter

Many people have taken the time to do their estate planning at some time during their lifetime.  While it’s important to start your planning as soon as possible, it’s also important to stay on top of your updates.  If you haven’t looked at your estate planning in several years, now is the time to review and update!

An estate planning attorney can walk you throughout the review process to determine if your estate plan still meets your needs.  Take a look at some of the reasons to update, below.  If you have any questions about your estate planning update needs, meet with an estate planning attorney.

Main reasons to update:

  • Change in financial situation, including significant asset increase or decrease
  • Changes in family, including marriage, re-marriage, divorce, and or adoption
  • Death of a beneficiary, executor, or trustee
  • Changes in state or federal laws (your attorney may advise you about these changes)
  • Changing your mind about a beneficiary or fiduciary
  • Moving out of state
  • Your specific needs change
  • Your attorney offers new documents and services

The above reasons are some examples of when you will need to review and or update your estate planning.  If you have questions about your specific needs, it’s important to talk with your estate planning attorney.  He or she will be able to advise you based on your personal circumstances.

Additionally, everyone should review and make updates every 3 to 5 years!

Updating allows your attorney to professionally look over your plans to that she is able to ensure that your needs will continue to be met.  Even if you don’t think you need to update, you may need to.

Is it time to give your estate planning a review?  If you need to review and or update your estate planning, consult with a qualified estate planning attorney.

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Filed Under: Estate Planning Tagged With: Estate Planning Updates

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Overall The Potter Firm was very professional. They took what could of been a very complicated process and were able to break it down so it was a lot easier to understand. We are confident we now have made the right decisions in our estate planning. Good firm to work with.

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John Potter has been a real pleasure to work with. He is very knowledgeable and explains things in a very simplistic manner so the average person can understand how/why the laws are written. He is very attentive and asks questions in such a way that not only helps him understand your goals, but also helps you think about what type of goals and expectations you should be considering. Exemplary client service.

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My husband and I selected Ms. Potter to assist with our small business. She responsive and attentive every time I have a question or need assistance, and is extremely knowledgeable and able to answer any legal question I have had. I know I can count on Ms. Potter for all of my business legal needs and I would highly recommend her to anyone needing legal assistance with such.

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