"How To Know It's Time For An Estate Plan Tune-Up"
How To Know It's Time For An Estate Plan Tune-Up Anyone with an estate plan should congratulate themselves that they've taken the required steps to adequately prepare for the future. However, just like buying a new car requires you to perform regular maintenance, so too does having an estate plan. If you created a plan and haven't performed regular maintenance on it, you need to review your plan with your estate planning attorney. In most situations, it's best to at least review your plan on a yearly basis, but there are others more specific times when you will probably need to make changes regardless of the last time you updated your plan. Changes in marital status. Any time you get divorced or get married, it is important that you immediately speak to your estate planning attorney so you can change your plan to reflect your new marital status. State laws are very specific about married couples and what rights they have in one another's estates. If you don't change your plans adequately reflect these laws, it can cause serious problems later on. Change in location. If you move to a new state or buy property in a state other than your current residential state, you probably have to make changes to your estate plan to reflect this new situation. Every state has different laws, and though the estate planning documents you create in one state will be valid in another, it's best to ensure your plan covers all contingencies including any potential conflict of law issues. Experienced estate planning attorneys Naples NY of the Law Office of Michael Robinson P.C. offers estate planning and business planning resources to residents of Naples NY. To learn more about these free resources, please visit http://www.mrobinsonlaw.com today.