Reasons to Update an Existing Estate Plan
Having a working estate plan is a route that most people take when they have assets to disperse to their family and friends in the event of their death. However, there are still plenty of reasons to update an existing estate plan in Ohio. Your estate planning attorney should reach out to you occasionally to see if you would like to make any changes. If they don’t, bear in mind this responsibility so that you can schedule the appointment yourself.
Life throws curveballs one after the other, and nobody knows what can happen next. To stay diligent, having your estate in order will be a way to ensure that your family is taken care of. If you would like to walk through the estate planning process, please contact us to schedule a free consultation. To help get you started, here are a few reasons to update your estate plan:
You’ve Gone Through A Divorce
More than likely, your will/trust lists your spouse as your primary beneficiary. If life doesn’t work out as planned, and the two of you have or are going through a divorce, it’s time to talk to your attorney. You will want to update your existing estate plan in Ohio to make sure that your children are aptly present in your will/trust.
You’ve Moved To Another State
If you move to another state, you will want to find a new estate planning attorney to hand your estate plan over to. It’s the perfect opportunity to update your existing plan. It’s also important to note that estate planning laws are different in each state so you may need to make some adjustments regardless of your own preferences.
Remarriage Warrants An Estate Plan Update
If the object of your affections changes, consider an updated estate plan. You may want your new spouse to become your executor or you may even want to include new in-laws. This makes handling your affairs easier on them and helps to avoid any later legal issues.
You Acquire More Assets
Coming into an inheritance, landing a well-endorsed career, or even winning the lottery calls for a change in your will/trust. The rules for your estate plan may change if your assets exceed a certain limit, or you may just want to equally distribute the wealth.
You Have More Children Or Grandchildren
Adding your children or grandchildren also warrants a change in your estate plan. You will want to choose to update an existing estate plan in Ohio each time a new little addition comes into the family.
Should you wish to schedule a free consultation to discuss updating your estate plan, please contact me at (614) 221-2702 or schedule an appointment on my website at https://www.jacksongary.com