Just as important as putting together a complete estate plan is giving it the attention it needs as your life changes and grows. It has been said “the key to success is often the ability to adapt.” By taking the opportunity to review and revise your wills, trusts and other documents with an experienced Estate Planning attorney like Marc Bronstein, we can keep things running smoothly and ensure that when life deals you the inevitable surprise, the repercussions are minimal.
Some life events are obvious when it comes to re-thinking or adapting your plans. A change in marital status can sometimes revoke parts or all of your will according to state laws. A growing family also necessitates changes to protect the new arrivals. Relying on the will that you signed as a newlywed can leave unanswered questions as your marriage progresses. The same is true as your business and assets grow. A change in income level requires a fresh look at how to handle your good fortune.
As time goes by, you might also find that those you once depended on have now become dependent on you for their wellbeing. It’s important to incorporate their needs into your estate plan. Your children will grow and leave home. As they reach adulthood their needs will also modify. Other life events can include retirement, health changes, and moving to a different state.
An annual review of where you stand with your Estate Planning can keep you current with changing state and federal laws. It’s essential that you review and revise all paperwork with a qualified professional in anticipation of any major life event. Taking the time to sit down with Marc A. Bronstein and update yesterday’s estate plan to reflect today’s needs will provide the peace of mind to deal with the challenges and changes that life delivers. With the wide range of expertise that we can provide, from estate planning to tax, business, and real estate law expertise, you can rest assured that you are well prepared. Call us.
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