Estate Planning isn’t just about documents—it’s about ensuring your wishes are honored and your loved ones are protected. But as life changes, so should your Estate Plan.
Many people assume that once they’ve created a Will or Trust, their plan is set for life. Unfortunately, that’s not the case.
Major life events – big or small – can impact your Estate Plan, and failing to update it can lead to unintended legal or financial complications for your family.
If you’ve experienced any of these common life changes, your Estate Plan may need a review:
Marriage or Divorce
Ensure your spouse’s legal rights are properly outlined and updated.
New Child or Grandchild
Add them as beneficiaries and name legal guardians.
Loss of a Loved One
If a beneficiary, Successor Trustee, or Executor has passed, their role should be reassigned.
Purchased or Sold Property
Ensure new assets are properly titled in your Trust.
Moved to a New State
State laws vary, and your Estate Plan should reflect any new legal requirements.
Changed Financial Status
Major gains, losses, or new investments may require adjustments to your plan.
Even If Nothing Has Changed, Regular Reviews Matter!
Even if no major life events have occurred recently, reviewing your Trust and Estate Plan regularly helps ensure:
- Your wishes are still accurately reflected in your documents.
- Your Estate Plan follows the latest legal requirements in California.
- Your family is protected from unnecessary legal challenges.
When was the last time you reviewed your Trust? If it’s been more than a couple of years, it’s time for a check-in!
Don’t Have an Estate Plan? Here’s Why You Need One.
Without an Estate Plan, your assets may be subject to Probate, a long, costly, and public court process that determines how your Estate is distributed after you pass away.
Without a Trust, decisions about your property, finances, and even medical care could be left to the courts – not your loved ones.
A Comprehensive Estate Plan Ensures:
- Your assets are passed to the right people without delays or unnecessary costs.
- You choose who will manage your affairs in case of incapacity or passing.
- Your medical wishes are honored if you’re unable to make decisions.
- Your loved ones are protected from legal complications and financial hardship.
Estate Planning isn’t just about protecting your assets – it’s about protecting your people.