There are so many different circumstances that should warrant a meeting with your estate planning attorney. As estate laws or your individual life circumstances change, it is appropriate to update your estate planning documents to ensure that they are in line with your intentions. What follows are three of the most common changes in your life that could prompt a meeting with an estate planning attorney.
First of all, if you intend to access your retirement savings, whether it’s your 401(k) or your IRA, you should update your estate plan if these assets have previously been included in your estate planning. The second common reason that you wish to update your estate plan has to do with changing trustees or beneficiaries.
In the event that you wish to revise any of this information due to a family dispute or whether one of the trustees has passed away, you will need all of your documents to reflect these changes.
Finally, significant changes in your healthcare or the health condition of your spouse may require that you update your estate plan. Health care costs can impact your assets, so it is a good idea to review documents with the help of an experienced estate planning lawyer.