Creating a comprehensive estate plan is something that we all need to do, yet most of us haven’t done it yet. If you are among the minority of people who have actually created a thorough estate plan, you are to be congratulated. Don’t stop there though! Along with regular reviews every three to five years, there are some life events that call for a change or update, including:
- Birth – when a child is born, it is always best to include the child by name in your plan if he or she is a potential beneficiary.
- Marriage –not only your own marriage, but the wedding of a beneficiary also calls for an update of your estate plan in most cases.
- Divorce – your own divorce certainly calls for estate plan changes, but the divorce of a beneficiary may also warrant changes to your estate plan.
- Death –the death of a beneficiary or heir requires estate plan changes, but so does the death of a someone appointed as trustee, executor or even guardian or your minor children.
- Changes in Law—both federal and state laws govern wills, trusts and estates. A significant change in the law could require a corresponding change to your estate plan.
- Move – because state laws partially govern estate matters, a permanent change in your state of residence, will likely require you to make changes to your estate plan to reflect any state specific laws that have changed.
I am an owner of Amen, Gantner & Capriano, Your Estate Matters, L.L.C. I have been able to bring my business and legal education and experience into a firm that has for many years provided comprehensive estate plans that meet clients’ needs and expectations.My passion has been creating and constantly pushing AGC’s mission of “Helping Families Secure their Legacies by Embracing them into the Law Firm Family through Long-term, Personal Advisory Relationships.”
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