The approaching new year brings forth many opportunities including the chance to revisit an existing estate plan or to set up your estate plan for the very first time if you haven’t done so already. A simple end-of-year review can help you avoid many common mistakes.
Working with our Pasadena estate planning lawyers will give you a sense of peace and clarity about your estate plan intentions, but there are also some things you can do in advance of a discussion with us to be prepared for your meeting. First, review any existing estate planning documents such as wills, trusts, life insurance policies, and beneficiary forms filed with retirement accounts.Â
It is very possible that life changes over the previous year mean you need to make updates to your estate plan such as adding a grandchild, naming a new personal representative or trustee for someone who is no longer willing or able to serve in that role, or updating your documents after a divorce. You may also have acquired additional assets in the past year that are not properly accounted for in your estate plan such as a home or other piece of real estate.
A simple 30-minute review of your documents may reveal multiple opportunities for immediate changes, but it is also wise to schedule a consultation with a Pasadena estate planning lawyer to discuss all of the elements of your current and intended future estate plan. Our lawyers have years of experience helping clients find the right estate plan for their needs now and into the future. If you have questions, bring them to your first meeting to talk through your estate plan.
