An estate plan is a lot like a car. When it’s new, it’s going to work perfectly for you, but over time things happen, and the only way to keep that car running like new is to keep up with your routine maintenance. What do you have to do to maintain an estate plan? There are a lot of life changes and even legal changes that can affect your estate plan, and that’s where the maintenance plans at Collins Law come in. Before we talk about what they are and how they work, let’s dive into the reasons why your estate plan must be maintained.
When Should You Update Your Estate Plan?
If you thought there were only a few reasons to update your estate plan, we would strongly encourage you to think again. Below are all very good reasons to go into your estate plan and make some changes.
Legal Changes that May Affect an Estate Plan
- Changes in State Law
- Changes to Federal Law
- Updates to Tax Law
Relationship Changes that May Affect an Estate Plan
- Having Children
- Having Grandchildren
- Updates to Trustees/Agents/Executors
- Death of a Family Member
- Health Changes for You or Family
Employment Changes that May Affect an Estate Plan
- Job Loss
- New Job
- Changes in Income
- New Business
Asset Changes that May Affect an Estate Plan
- New Residence
- New Property Assets
- Purchase of Controlled Firearms
Other Changes that May Affect an Estate Plan
- Charitable Interests
- Care of Pets
- And More
The list is long, and we know that we didn’t touch on everything. Can you name a year in your life when not one of those things happened? Updating your estate plan can feel like a real obstacle. We get it. It’s easy to just assume that your estate plan is fine until a bigger and less frequent life change occurs, but you can’t plan for everything. That’s why we are here. The way Collins Law does it with our maintenance plan will make it a breeze.
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Learn About the Collins Law Maintenance Plan
With the maintenance plan offered by Collins Law Firm is going to do a lot for you. You can get your estate planning questions answered by phone or email as you go, and we also set up annual estate planning update meetings. At these meetings, we will review all your documents, and you are free to include financial planners or family members in the process.
Read More: What is the Difference Between a Will and a Trust?
Additionally, with the maintenance plan, we also include asset tracking. With asset tracking in place, we will review asset types, asset values, and assets funded into your trust as well as beneficiary designations.
We can also update advance directives at no additional charge and in the event of a family disability or death, we can host a family meeting for you. The team at Collins Law wants to be there for you, and our maintenance plan is a great way for us to provide that extra level of service to you.
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Additional Benefits to the Collins Law Maintenance Plan
In classic fashion, we have to say, “But wait there’s more!” People who are utilizing our maintenance plan will also have access to all of these great benefits as well:
- Legal Workshops
- Discounts on Services
- Access to our Document Delivery and Storage Systems
- Newsletter Access
- Legal Reviews (Whether it’s Estate Planning or Not)
- Client Appreciation Events
- And Even Prizes!
Nothing posted on this website is intended, nor should be construed, as legal advice. Blog postings and site content are available for general education purposes only.