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Home / Estate Planning / Top Three Reasons To Update Your Estate Plan

Top Three Reasons To Update Your Estate Plan

July 30, 2012 by John Kuhn, Estate Planning Attorney

They say that one thing leads to another, and this is certainly true when you are engaged in the process of estate planning. Indeed, the word “process” is something to absorb because being optimally prepared at all times is an ongoing endeavor.

With this in mind, let’s take a look at the top three reasons to update your estate plan.

Marriage, Divorce & Remarriage

An update to your estate plan is going to be a natural accompaniment to any change in marital status. In fact, you may want to discuss the legal ramifications of your decisions before you take any action rather than doing so after the fact.

Family Subtractions & Additions

When you have someone new join the family you are probably going to want to make sure that you make the appropriate provisions. And on the other side of the coin, if and when people who you have included pass away adjustments will be necessary as well.

Significant Financial Gains

If you are fortunate enough to accumulate significant financial resources over time you may have a new set of circumstances to address. This could include estate tax exposure and/or the need to implement asset protection strategies.

The wise course of action is to develop an ongoing working relationship with a good South Carolina estate planning lawyer who can gain an understanding of your situation over time and be at the ready to recommend the appropriate adjustments. To get started, simply take a moment to arrange for a consultation.

 

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John Kuhn, Estate Planning Attorney
Former South Carolina State Senator, John Kuhn is a founding partner of the Kuhn & Kuhn Law Firm.The Kuhn & Kuhn Law Firm is a boutique estate planning (wills, trusts and probate) firm, which he and his wife opened in 2002.The law firm was created to serve clients who want an excellent and thorough estate plan.
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Filed Under: Estate Planning Tagged With: Estate Planning, Inheritance Planning

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