Wondering Whether You Need to Update Your Estate Plan?

11 Dec Wondering Whether You Need to Update Your Estate Plan?

Can we be frank? It’s unrealistic to think that a piece of paper you draft, reflecting your life at a certain time, will work when your life has completely changed some years later. Is it time to update your estate plan? Think through all the changes that have occurred in your life since you last thought about it.

Changes in Your Life

Since drafting your estate plan:

  • Have you moved?
  • Do you have more children or grandchildren?
  • Have you started a business, suffered health problems, or purchased a new home?
  • Do you have new accounts and investments?
  • Do you now care for a parent, pets, or dependent children?
  • Have you remarried, gotten divorced, or retired?
  • Has someone you loved died?
  • Have friends named in your plan as trusted helpers moved away or has your relationship changed?
  • Are your children now adults and able to help you?
  • Do you want to help with grandchildren’s college or dance lessons?
  • Do you see the world in a different way?


Is Your Estate Plan Out-of-Date?

Many things have happened in the past 10 years. Your estate plan needs to reflect the changes in your personal life, financial situation, and goals. There have also been changes in the law and we continuously learn to protect our clients in better and better ways as the law evolves, so the way we do things has changed.

If you’ve experienced changes or if it’s been more than 3 to 5 years since you updated your estate plan, it’s time to come in. We’ll review your plan and chat with you about it.

Dan McKenzie
Dan McKenzie
dan@themckenziefirm.com

Dan specializes in estate planning, estate administration, and small business counsel. He opened the McKenzie Law Firm in 2013, after spending 10 years as a litigator, seeing what can happen when people fail to carefully identify and mitigate their risks. He is pleased to be raising four kids in the same state where he grew up.