There’s nothing like the feeling you get when you complete your estate plan. This allows you to look toward the future without any fears of what will happen to your estate upon your passing.
But there’s something you need to think about: your estate planning documents won’t necessarily suit you for the rest of your life.
It’s critical to get into the habit of regularly reviewing your estate plan. When doing so, answer questions such as:
- Are there any details that no longer suit your current circumstances?
- Are there any details that don’t make sense in regards to your long-term estate planning goals?
- Has anything major changed in your personal and/or financial lives?
For example, if your beneficiary passes on before you, review your estate plan and make the necessary changes. Neglecting to do so puts your estate at risk upon your passing, as it’ll be subject to state inheritance laws (which may not align with your wishes).
How to Alter Your Estate Plan
Should you find that you need to make changes to your estate plan, there are a few basic steps that can put you on the right track:
- Review the terms and conditions of your estate plan
- Make note of what you can keep and what you need to change
- Consult with an estate planning attorney
Don’t make the mistake of assuming you can alter your estate plan on your own. Doing so increases the risk of an error that could affect you and/or your family in the future. At The Edwards Law Firm, P.A., we can assist you with all aspects of reviewing and altering your estate plan. We’ll work with you to ensure that you’re 100 percent confident with the plan that you have in place. Contact us online or via phone for more information on our services and professional guidance from start to finish.
