Will Your Estate Plan Work the Way You Think? Brandon Estate Planning Lawyer Says, “Take This Quiz and Find Out!”

As a Brandon Estate Planning Lawyer, I want you to know that your estate plan is the legal foundation that will ensure that your family benefits from the legacy you’ve spent a lifetime to build. In a way, your estate plan is a reflection of your life. Because your life is constantly evolving due to births, marriages and other significant events, your estate plan should evolve as well.

Here at the Law Offices of Laurie E. Ohall we encourage our clients to review their estate plan every couple of years to make sure it still meets their wishes. However, there are certain changes that can occur that should trigger you to immediately review. Take this quiz and check the box if any of these apply to you.

  •       Have you moved or purchased property in a different state?

If you have recently moved to another state, or if you own property in two or more states, you should talk with an experienced estate planning attorney. The estate plan created in your former state of residency might still be valid, but it is important to find out early so that there are no surprises if something unexpected happens. Further, if you have property in two different states, it is important to know that your estate might have to go through probate in both states. A quick conversation with an estate planning attorney will let you know if you need to revise your will or trust.

  •       Are you or your children newly divorced?

Without a thorough review of your current estate plan, you may unintentionally leave some of your assets to your ex-spouse or your children’s ex-spouse.

  •       Any recent deaths in your family?

As part of your estate plan you most likely named several people for different roles such as beneficiaries, guardians, executors and other agents. If any of these people die, it is important to amend your plan to ensure that your legacy goes to the people you choose.

  •       Have you had any changes to your health?

If you are diagnosed with a health condition that will increase your risk of death or incapacity you need to review your plan. It is important to review your health care directive to name the right person to speak for you in a medical crisis. You may also consider moving some of your assets into a trust in the event you need long-term care.

  •       Has there been fluctuation in your financial condition?

If you have had significant changes in your financial situation, you should come in and review how you have allocated these assets in your estate plan.

  •       Do you have any new family members?

Are you or any of your family newly married? Or do you have any new babies in your family? A new family member may mean that you need to update your plan to ensure that you include (or exclude!) them.

If you have checked any of these boxes, it’s time to give us a call so that we can make sure that your plan is going to work the way you would like it to. Call us at (813) 438-8503 to set up a free telephone consultation today.


By |2017-04-12T09:00:53+00:00April 12th, 2017|Categories: Estate Planning|Tags: , |0 Comments