The Wealth Advisor
The Only Constant in Life is Change
When Circumstances Change, So Should Your Estate Plan
Your estate plan was written to reflect your situation at a specific point in time – and – as we all know – our lives continually change, unfolding in ways we might not have anticipated. Just like you meet with your doctor, financial advisor, or CPA on a regular basis, you need to meet with us on a regular basis as well.
In this issue, we:
The goal? To make sure that your estate plan achieves your goals and works for your family.
Update Your Estate Plan if Any of These 6 Circumstances Apply to You
It’s not just changes in your life you need to think about – Congress, the courts, and the legislatures are constantly changing the rulebook. If you haven’t had your will, trust, or estate plan reviewed since 2012 or if any of these 6 circumstances apply to you, it is essential to contact us, so we can get you back on track.
Examples of When You Should Update Your Trust
To illustrate when a revocable trust should be updated, let’s take a look at the Thomas family: Jim and Carol have been married for 20 years and have three grown children. Several years ago, they created a trust to provide for themselves and their children.
However, since that time, their family has gone through many changes – some good and some not so good. Jim and Carol are considering updating their estate plan to reflect changes in their family’s circumstances. Here’s a look at their circumstances and how they may affect their estate plan:
How Often Should You “Check In” On Your Estate Plan?
It is a certainty that your life will change. All manner of life and financial changes make it necessary to “check in” on your estate plan.
We can help you to manage your plan. If it’s been 3 to 5 years – or – you have experienced significant life change since you signed your estate planning documents, call our office now. We’ll help you determine whether your estate plan needs to be updated. Life moves fast and procrastination can harm you and your loved ones. We welcome your call now.
Law Offices of J.R. Hastings • 1003 Third Street, San Rafael, California 94901 • 415-450-6692