Estate planning is one of those tasks that people routinely put off, sometimes until it is too late. When you are young, you might rationalize not sitting down and creating a will or trust by saying that you do not have any assets or people who depend on you. As a young professional or parent, estate planning might still not be a high priority. By the time you are in your middle ages or older, you might assume that your family and loved ones know how you would want your affairs to be handled, and so an estate plan is unnecessary.
The truth is, however, that any adult of any age in Florida can benefit from a comprehensive estate plan. However, there are certain life events which should cause you to make a call to your estate planning lawyer right away. This post will explore what a few of those life events are and why reviewing your estate plan at these junctures is so critical.
When to Review Your Estate Plan with a Lawyer: Four Key Life Events
If you have any concerns at any time about your will or trust, or why you do not have one, you should visit with an estate planning lawyer about those concerns. However, when any of the following four life events happen, you should definitely seek legal counsel about how the event might impact your family and intentions. These events are:
You Get Married or Divorced
Not only might the language of your will or trust need to be amended to reflect your new spouse’s name, but so do your advance healthcare directives and insurance policies. Unless these latter-described documents have some creative and ambiguous language designating “your current spouse” as your power-of-attorney or beneficiary of a life insurance policy, your ex-spouse would remain on these documents following your divorce.
You Have Children or Adopt Children
Any time you have a child or adopt a child, you impact the way that you potentially divide your assets. By visiting with an estate planning lawyer, you can ensure that all of your children are treated in the way you would want each of them treated. Visiting with a lawyer and updating your estate plan is especially important if the children are not your children legally or naturally.
You Acquire Significant Assets
Lastly, if you acquire valuable assets or have assets that you want to go to a specific person, it is a good idea to sit down with your estate planning lawyer and review your estate documents. Even if nothing needs to change about your estate plan, having that peace of mind nothing that your final affairs will be handled as you intended can be comforting.
Where to Turn in Florida for Experienced State Planning Services
Whether you are creating your first will and trust or needing your existing one looked over and updated, trust the professionals at Centonzio Law to help you. We take the time to understand your situation and unique goals so that we can fashion an estate plan for you that accomplishes those goals and protects your family’s interests.
Set up your initial consultation by calling Centonzio Law by dialing (727) 900-7290 or by contacting us is on our website.