Is Pasadena estate planning on your adult to-do list? Bear in mind that this is not a once-and-done planning opportunity. Life changes and your estate planning strategies and documents have to be adjusted over time.
Whenever your circumstances change, or whenever the law has been adjusted, you need to sit down and reassess your current plans. Your plan could have become outdated if state or federal regulations have rendered your old plan obsolete.
Some of the common situations that might lead you to update your plan include a birth of a child, the loss of a loved one, changing your job or being terminated, or marriage or divorce. All of these are major changes that mean looking at your full range of estate planning documents from wills to trusts to beneficiary forms.
Even if you don’t think any significant has happened in your life in the past year, it’s a good idea to sit down with your estate planning lawyer to discuss whether any other changes have occurred that are worth review.
A Pasadena estate planning attorney can help you figure out how your individual life circumstances call for a revisit of your estate planning. Taking the time to sit down with your lawyer helps you avoid the biggest estate planning mistake of all: not putting together any plan for your estate in Pasadena.