For many people, creating an estate plan is on their to-do list, however, it appears near the bottom. Those who do complete their estate plan feel accomplished after executing their trust and funding their assets to the trust. They are so excited that they forget that the estate plan should be reviewed often to ensure that the existing estate plan coincides with their current goals. While we provide our clients with a complimentary 30 minute review every three years, we suggest you come see us more frequently if you experience a life changing event. Examples of such events are set forth below. If you experience any of the following, please contact us to review your estate plan.
– Birth of a child, grandchild
– Disinheritance of a child
– Death of a beneficiary/trustee/executor
– Significant increase in wealth/assets (i.e. win the lottery, start up goes public)
– Decreasing or consolidation of wealth (i.e. simplify complex estate plans)
– Establishing a business (i.e. assigning business interests to the trust)