I Already Have An Estate Plan. Do I Need To Update It?
Years ago, you created an estate plan that suited your needs. But your life has changed significantly since then. Do you really need to work with an attorney to update your estate plan?
Yes. Having an up-to-date estate plan that includes a will, health care directive, power of attorney and other documents is crucial for every adult. At the Law Offices of Linda J. MacKay, we can work with you to implement the changes you need to suit your current life. With more than 20 years of legal experience, we will work with you one-on-one to build a relationship and understand your legal needs.
Why Update My Estate Plan?
Many Californians believe that once they create an estate plan, they do not need to revisit it. But this misconception can harm your loved ones if you pass away with an outdated will or other documents. These are some of the most common reasons to update your estate plan:
- Name your new beneficiaries
Over time, you may want to distribute your assets to more or fewer beneficiaries. For example, if your loved ones have children, you may wish to leave them some property or set up trusts. If you divorce, you may wish to remove your former spouse from your will.
- Address your current health
Your health can change considerably over a few years. Your health care power of attorney and advanced health care directive should reflect this. If you have developed a medical condition, you will want your estate plan to inform your doctors how to care for you.
- The size of your estate changes
Estates may increase or decrease drastically in just a few years. If you have gained or lost significant assets, you will want to revisit your estate plan. You can decide how to address your debts, distribute your assets and plan for retirement.
Ask About Updating Your Plan In A Free Consultation
The Law Offices of Linda J. MacKay provides free initial consultations, and many of our services have flat fees. If you are considering to update your estate plan, contact our office in San Jose. You can reach us at 408-379-9600 or you can send the law firm an email.