Creating an estate plan can seem like an important accomplishment – and it is, as you are working to protect your family’s future and your property. However, too many people assume they can depend on the same estate plan for years to come, and you would be surprised about how many people fail to ever address their estate plan again.
As we all know, our circumstances in life can change over time, and sometimes, they can change very quickly. When you experience a major life event or a series of minor changes, your estate plan might not meet your changing goals for your beneficiaries and your estate. It is important to review your estate plan with an experienced estate planning lawyer when the following events occur, among others:
- You get married
- You get divorced
- You get remarried
- You have a new child
- You acquire substantial property
- You lose property
- The nature of your assets or property changes
- You have close relationships that end
- Someone close to you passes away
If your beneficiaries change, such as with marriage, the birth of a child, a divorce, or a death in the family, you should adjust your estate plan accordingly.
Always remember your estate plan is not only about property distributions after your death, as you also want to protect yourself should you become incapacitated. You want to ensure your power of attorney and trustee are always updated with someone you trust and who is capable of the tasks at hand.
Contact an Estate Planning Lawyer in Carlsbad Today
The McKinnon Law Firm can help you create a new estate plan, as well as review and amend an existing plan as needed for your situation. Call 760.707.3373 or contact us online to learn how an experienced Carlsbad estate planning attorney can help you.