Year-End Questions to Ask Yourself Before an Estate Planning Evaluation

How long has it been since you sat down to think about your estate plan? Odds are you either don’t have one or it’s been years since those documents were reviewed.

The end of the year is a popular time to meet with estate planning lawyers to discuss your next steps and your goals. A consultation with a dedicated estate planning lawyer can help you adapt your existing strategies to be in line with any major changes in the past year. Before setting up a time to meet with your estate planning lawyer, however, it is beneficial to ask yourself some questions, including;

  • Are all of the assets you currently own listed in your estate plan? For example, have you acquired assets over the course of the past year and have not corrected your estate plan to include them?
  • Do all of the beneficiaries and people receiving gifts in your will still align with your intentions?
  • Do you have any recent appraisals of any properties you own?
  • Has your tax situation changed in any way that would prompt an adaptation in your estate plan?

If you wait beyond an annual review to ask these questions, the chances of making mistakes are much bigger.

All of these are important questions that you should attempt to answer on your own before speaking with an experienced and knowledgeable estate planning lawyer in CA. At least once a year, but also when you encounter major life changes like the birth of a child or a divorce, you should reconsider whether your estate plan is helping you to accomplish the same goals.

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