10 Life Milestones Requiring an Estate Plan Checkup - Part 2

Posted by Yuki Ku | Sep 22, 2023 | 0 Comments

Last week, we explored the importance of regularly reviewing your estate plan to ensure it remains effective as your life evolves. Today, we're diving into five more critical life events that should prompt an immediate review of your estate plan.

06 | You Became Seriously Ill or Injured

A sudden illness or injury can leave you incapacitated, making it crucial to review your estate plan. Ensure it includes Powers of Attorney for healthcare and finances to name someone you trust to manage your affairs and make medical decisions on your behalf.

07 | You Moved Here From Another State

Moving from another state after completing your estate plan means you should have it reviewed by a local attorney. Different states have varying laws and regulations regarding estate planning, so ensuring your plan complies with local requirements is essential.

08 | You Got Married

Marriage is a significant life event that requires updating your estate plan. Make arrangements for shared assets and consider creating provisions to protect each other financially and emotionally in the event of your passing.

09 | You Got a Divorce

The end of a marriage necessitates an immediate review and revision of your estate plan. Create a new Will and Trust, update beneficiary designations, and revise asset distribution to reflect your new circumstances and relationships.

10 | The Law Changed

Changes in federal or state estate tax laws can have a substantial impact on your estate plan. Review your plan to minimize tax burdens and protect your wealth for your loved ones. With potential federal estate tax law changes in 2026, it's essential to assess how these changes may affect your family's estate tax status.

Your estate plan is a vital foundation for protecting your family and finances today and in the future. However, it's not a one-time task; it should adapt and evolve alongside your life changes.

As your Personal Family Lawyer®, my mission is to ensure your estate plan remains up-to-date and effective, no matter what life brings your way. I offer my clients a complimentary review of their estate plan every three years and encourage reaching out at any time with questions or life events that might affect their plan.

If you're ready to create an estate plan that safeguards your loved ones and legacy or want your existing plan reviewed, please don't hesitate to give me a call. I'd be honored to help secure your family's well-being for years to come.

You can start by scheduling a consultation through the link below. I look forward to hearing from you.

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This article is a service of Roots + Wings Legal, a Personal Family Lawyer® Firm. We don't just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Family Wealth Planning Session™, during which you will get more financially organized than you've ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session.

The content is sourced from Personal Family Lawyer® for use by Personal Family Lawyer® firms, a source believed to be providing accurate information. This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal, or investment advice. If you are seeking legal advice specific to your needs, such advice services must be obtained on your own separate from this educational material.

About the Author

Yuki Ku

Yuki Ku Chief Attorney Roots and Wings Legal Get In Touch Welcome to Roots and Wings Legal, where we are committed to helping you secure your family's future and ensure a smooth transition for your business. My name is Yuki Ku, and I am an estate planning attorney based in the vibrant San F...

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