5 Times When You Need To Update Your Estate Plan Right Away

Your Estate Plan is uniquely crafted to fit you. It should reflect your personal life experiences, goals, and relationships. The funny thing about life is how often those change – and, consequently, your Estate Plan should be changing along with them. Here are 5 times when you need to update your Estate Plan as soon as you can:

You Moved To Another State

Since probate is handled differently in every state, your Estate Plan is uniquely crafted to address the needs of your specific state. If you have moved to another state since creating your Estate Plan, you need it to be updated by an attorney in your new state.

You Got Divorced

You might think that it’s common sense that you wouldn’t want to leave everything you own to someone you just divorced – but in the eyes of the law, it isn’t. If you got divorced from someone listed in your Estate Plan, they will stay in your Estate Plan until you manually update it.

Your Retirement Plan Changed

If the beneficiary designations of your retirement plan have changed since you created your Estate Plan, you need to update them. This is a common mistake and especially important for those who created their Estate Plan more than ten years ago.

You Had Your First Child

Congratulations! If you have had your first child since creating your Estate Plan, it’s time to update it to include them! Estate Planning has a lot of options for new parents, including electing your preferred guardians to raise your children if anything unexpected should happen to you.

Your Relationships Have Changed

Your Estate Plan directly involves your loved ones, whether you are leaving things to them or asking them to take on a responsibility you are leaving behind. As your personal relationships change, you may want to alter what roles were being filled by which loved ones. Perhaps someone you left in charge of your child’s financial estate you no longer think is particularly skilled with money.

Get the Help You Need

Your Estate Plan is not carved into stone. It should grow and change as you do, shifting to fit your new accomplishments and realities. If any of the above has happened to you and you have not yet updated your estate plan, contact C. Alvarez Law today! We can help you get your Estate Plan where it needs to be. We strive to make the legal process as smooth as possible!

The following two tabs change content below.
The following two tabs change content below.

C. Alvarez Law

C. Alvarez Law is a Central Florida-based law firm that helps families find resolutions to their most complex family law issues. We are dedicated to providing the support and advice you need for a positive outcome and a better life. Before you can move on with your life, you need closure. Our firm is diverse, energetic, and passionate about delivering this for the clients who have placed their trust in us. Let’s work together today to find a better tomorrow.

Latest posts by C. Alvarez Law (see all)

%d