Here for YOU Today and There for your FAMILY Tomorrow

When was the Last Time You Revised Your Estate Plan?


When Was the Last Time You Revised Your Estate Plan?

If you finally updated your estate plan in 2016, that’s great! But if the last time you reviewed your estate plan was more than four years ago, it’s time review again. You might not need to change a thing—but you won’t know if you’ve missed out on beneficial changes to the law unless you do a review with your estate planning attorney.

Forbes’ article, “6 Reasons to Revise Your Estate Plan as Soon as Possible,” says that periodically reviewing your estate plan will ensure that it accurately reflects your current goals and wishes. If your personal or financial situation changes, you should be certain to revise your estate plan. Here are some of the top reasons to see your estate planning lawyer and make changes:

  • If you divorce and when it’s final, you need to revise your plan to reflect any new goals and desires.
  • If you remarry, you and your new spouse may each have children from a previous marriage or relationship… so you need to work with an experienced estate planning attorney to go over what can be the confusing realities of planning for the children of blended families.
  • If you have a new addition to your family, by birth or adoption, you’ll want to ensure your new child’s financial future and to designate a legal guardian in case you and your spouse pass away or are incapacitated.
  • In the event that you or one of your family members becomes seriously ill, you might think about a change to your plan to reflect their increased needs… a special needs trust may be in order.
  • The tax code is always undergoing review, updating, and change… these rules may significantly impact your estate plan. Your estate lawyer is your best bet to ensure your plan is in compliance with any new legislation.
  • Finally, the increased value of your estate may make you rethink inheritances and how you’d like your assets to be distributed upon your death.

If it’s easier, just add “Review estate plan” to your New Year’s resolutions. Think of it this way: it’s probably going to be a lot easier to make that appointment than to lose those last twenty pounds! On a more serious note, your life may be the same as it was four years ago, but there have been changes in the law that could have a positive impact on your overall goals. It’s a simple task, and one that’s easy to address.

Do you live in Miami-Dade, Broward, or Palm Beach counties in Florida? Laws are constantly changing-- has your estate plan been reviewed in the last 2-3 years? Call me (954-888-1747) right away for peace of mind. I can help!

  • My practice is exclusively estate planning and probate,
  • I have prepared numerous estate plans in 16 years of practice,
  • I have administered estates and trusts through Probate all over Florida,
  • I am a Certified Financial Planner Professional™, and
  • I am here for YOU today and there for your FAMILY tomorrow.

Reference: Forbes (January 2, 2017) “6 Reasons to Revise Your Estate Plan as Soon as Possible”

Why would we recommend D.T.F.? Several Reasons: Your ability to explain complex estate problems, clearly and patiently; your total lack of arrogance and pretense; a strong feeling that you are motivated by what you perceive is best for your client, rather than what would generate the largest legal fees; finally, and importantly, you are a lovely guy. A.C.

Two words cannot sum up the entire process of creating my “trust.” I enjoyed your attention to detail, your patience of explaining terms and conditions until I understood, also giving me copies to read and understand. Thank you for your suggestions on what was best for “me” but still allowing me to make my choice. Most of all, thank you for thinking of “me.” Wells Fargo said “you were the best” I cannot deny that. Again thank you very much for everything. Anna is an asset or a compliment to the firm. She is warm and very caring. It was great doing business. Thank you.