How to Keep Your Estate Plan Relevant
Like many things in life, estate planning is an ongoing process and change is an inevitable part of that process. To ensure that your estate plan remains relevant through the years, you should:
Update your estate plan whenever you experience a life-changing event such as a divorce, death, remarriage, new child, change in financial condition, etc.
Make sure that your trustee and your family knows where all your documents are stored, or your wishes could be ignored.
Don't make changes yourself. Adding new instructions or provisos yourself just leaves the door open for interpretation - and it could be the opposite of your original intention. If you need to make a change to your estate plan, speak with your California estate planning attorney.
If you have created a trust, make sure that any new assets you acquire after its formation are titled in the name of your trust.
Do not assume that family harmony will always be in place. The only certain way to avoid a family dispute over your estate is to have a comprehensive estate plan in place.
The Flanigan Law Group provides Southern California residents with personal attention for estate planning, administration and litigation legal services. When disputes between families, arise, they are very successful in resolving legal estate issues quickly and efficiently while preserving financial and emotional resources. Contact the Flanigan Law Group at 949-450-0042.