Situations that Call for an Estate Plan Review

Situations that Call for an Estate Plan Review

Estate planning is crucial, so we want to commend you if you have already taken this important step toward providing for your family in the future. However, it is important to remember that you need to review your plan from time to time to make sure it still outlines your wishes. Here are a few times to go over your estate to make sure everything is still the way you want it.

• It’s been a long time – Never let more than five years go by without looking at your estate plan. Every three years is even better. Sometimes your wishes may change, or you may need to make some adjustments due to changes in state or federal laws.
• You’ve experienced a major life event – A few examples would include a new member of the family, a divorce, death of a beneficiary or successor trustee, and anything like these. You need to make sure your estate plan accounts for the people that are moving in or out of your life.
• Your financial situation has dramatically changed – Whether you have a lot more money all of a sudden or significantly less, it is time to go over your estate plan to make sure you are distributing your assets in the best way possible.

San Diego’s Source for Updated Estate Plans

Another major reason to check your estate plan is when you move to a new state. Petrov Law Firm has the California estate planning attorneys you can trust to help you update your future planning documents. Call us today at 619-344-0360.