A comprehensive estate plan typically incorporates a wide variety of tools, documents, and strategies into the plan in order to accomplish the numerous goals you likely have. If you are part of a blended family, estate planning is usually even more complicated. Thankfully, there are a number of estate planning tools that work extremely well [ ] The post What You Need to Know about a Life Estate appeared first on Amen, Gantner & Capriano | Your Estate Matters, L.L.C..
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Life Events that Should Trigger an Estate Plan Update
In the United States it is estimated that less than half of all adults have an estate plan in place. If you are among that minority you are to be commended; however, do not make the mistake that people so often make of forgetting about your estate plan after it is created. Often, an outdated estate plan creates far more problems than it solves when the time comes to probate the estate. To ensure that your estate plan is accurate and current you should take the time to review your plan at regular intervals. In addition, there are several life events that should trigger an estate plan update. Although there is no “set in stone” rule regarding how frequently an estate plan should be reviewed, it is common practice to update a plan at closer intervals during your working years and less often after you retire. The reason for this is that important benchmarks in your life tend to occur earlier in your life, making it more likely that your estate plan will need to be revised with greater
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