If you are reading about estate plans, then it could be time for you to update or revisit yours. Texas law changes from time to time, and it is likely that your own family situation does the same.
It is rarely inappropriate to look at your plans for your family’s future. However, there are some times when it could be even more important to analyze how your assets may behave and the potential consequences for your loved ones.
The times when you would want to review your estate plan would vary based on your own unique situations. Major events that change the structure of your family, such as marriages, divorces or adoptions, may all be a cue to look at where your assets would go should the unfortunate occur. These events could all introduced a new element to the distribution of an estate, and perhaps even create new parties with claims against any estate plan you created.
You may also want to periodically check in and make sure that your escape plan is still as effective as possible. For the most part, laws do not change so quickly that your wishes would go completely unheeded after you pass on. However, certain strategies that worked 15, 10 or even 5 years ago may not be as advantageous as they once were.
At Doehring and Doehring, Attorneys at Law, we understand that the estate planning process is not an enjoyable endeavor for all of our clients. It has the potential to be confusing and emotionally challenging. That is why we always try to make any revisions or new plans as efficient and straightforward as possible. Even with the most complex and robust estate plans we handle, we strive to keep our communications as clear and prompt as possible so our clients always know what is going on. Please continue on our main site to read more.