Update An Estate Plan
Anaheim Wills and Living Trust Lawyers Update Estate Plans
Creating an estate plan is no easy task. It involves confronting your own mortality, gathering information about your assets, thinking through end-of-life issues, and making important decisions. So it’s only natural that when people complete the process, they breathe a sigh of relief and get back to living their lives.
But life is constantly changing. Your current financial and family circumstances are likely to be different from when you first wrote your will or estate plan. And, as circumstances change, estate plans must be revisited and updated.
Our Orange County estate planning attorneys revise and update clients’ estate plans
Our Anaheim wills and trusts lawyers meet with former clients and new clients to update their estate plans. By modifying our clients’ plans to accommodate changes in their lives, we help ensure that our clients’ current goals and objectives will be carried out.
If you want to learn more about drafting wills and living trusts, let us know. We will send you a complimentary pamphlet and DVD about the estate planning process. To receive a complimentary copy of our pamphlet, “The Ten Things You Must Know Before Creating (or Amending) Your Will or Trust” or a complimentary copy of our DVD, “Understanding the Revocable Living Trust: In Language that Anyone Can Understand in 8 Minutes,” let us know where to send them.
Have your personal circumstances changed since you last looked at your estate plan?
Since you last updated your estate plan, have you:
- Gotten married?
- Gotten divorced?
- Become a parent?
- Changed your mind about who you wish to inherit your assets?
- Substantially increased your assets?
- Sold off or given away a substantial portion of your assets?
- Moved to another state?
- Started a business?
- Experienced the death of your planned executor, beneficiary, or guardian?
- Changed your mind about medical interventions?
- Found a charity that you endorse?
- Allowed more than three years to pass?
- Experienced other life-changing events?
If you answered “yes” to any of these, you should have your will and living trust documents reviewed by an estate attorney.
You will leave our office with a comprehensive estate plan and the peace of mind that comes with knowing your affairs are in order.
We are thorough attorneys. We listen to our clients so that we understand their needs, desires, and goals. Getting to know our clients and their personal circumstances enables us to create personalized documents that will effectuate our clients’ goals. Having a well-planned, comprehensive estate plan in place gives our clients feelings of peace and satisfaction.
We also let our clients know what life events may necessitate a change to their estate plans, and we ask that they contact us if those life events occur. We view our relationships with our clients as ongoing relationships.
Please contact our Orange County estate planning attorneys for your estate planning needs
If you would like our California estate planning attorneys to review your current estate plan documents, contact us. You may reach us by calling (714) 282-7488 or by filling out an online contact form.
James F. Roberts & Associates, APC, drafts wills and living trusts for people who live in Anaheim, Orange, Villa Park, Yorba Linda, Fullerton, Huntington Beach, Placentia, Santa Ana, Irvine, Garden Grove, La Habra, and surrounding areas.
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My grandson is suggesting that I change my will. Can he do that?
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How do I know when I should call a lawyer to modify my estate plan?
There is no set time when you should call a lawyer to modify an existing estate plan. Find out how to make an educated decision here.
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I think my wife and I have an A-B-C Trust. Do the new 2013 Estate Tax laws affect us? Our assets are significantly below $5,250,000.
If your trust is in fact still an ABC trust, this is probably not the current best strategy for you because it was set up before the exemption amount has stabilized at $5,250,000. Your estate plan (if modified) will be cheaper and easier to implement at the death of one of you if you don’t have the ABC trust. I recommend that you and your wife have your trust reviewed for free to give you the peace of mind that your trust is current.
I want to update my Anaheim estate plan to account for my digital assets. Which types of information and accounts should I include?
Recognizing the need for an Anaheim estate plan update to accommodate your digital assets is an important first step. Once you have realized that your substantial digital assets need to be accounted for in your estate plan, it is important to create a list of your entire digital estate. This is a broad term that may appear overwhelming at first glance. Fortunately, an experienced Anaheim estate planning lawyer can help you to identify your digital assets and draft provisions into your estate planning documents to ensure those assets are handled according to your wishes.
What assets should be listed when documenting your digital estate? These assets may include:
Hardware that contains your digital information. This may include computers, hard drives, zip drives, DVDs, or CDs.
Software, such as Microsoft Word and Excel documents and financial data contained in Quicken or Quickbooks.
Email accounts, including personal accounts, business accounts, and social media accounts.
Social media pages, such as Facebook, Twitter, Instagram, or Google+.
Online digital storage accounts, such as mozy, carbonite, flickr, picasa, or dropbox.
Online accounts, such as eBay, Amazon, GoDaddy, or bank or other financial accounts.
For more information about modifying an estate plan in California, view our free guide, The Ten Things You Must Know Before Creating or Amending Your Will or Trust. Our office of experienced Anaheim estate planning attorneys is well versed in the unique issues that surround digital assets and information. Call our office today at (714) 282-7488 for a consultation.
I am part of a same-sex couple in California. Should we update our estate plans following the Supreme Court ruling on DOMA?
For same-sex couples throughout the state, the answer to this question is a resounding “YES!” The recent rulings are so new that some of the implications are not yet fully understood. Regardless, what we do know is that there are countless estate planning opportunities that are newly available to same-sex couples. If you and your spouse previously executed estate planning documents, now is a great time to discuss an update. Consider taking the following actions:
Contact an experienced Anaheim trust attorney right away for a review of your existing plan and recommendations for updates that may benefit you.
Gather your old estate documents, including ancillary documents such as durable powers of attorney and health care directives.
Obtain copies of bank statements.
Assemble copies of beneficiary designation forms.
Gather deeds for real estate.
Obtain a copy of your marriage license.
Gather copies of life insurance policies, tax returns, business documents, and any other financial information that may apply to your estate plan.
It may seem like a hassle to have to update your estate plan; however, the tax savings and other benefits that are suddenly newly available to you are well worth the investment.
To learn more about the process of conducting an estate plan modification, view our free guide, The Ten Things You Must Know Before Creating or Amending Your Will or Trust. Our office of knowledgeable Anaheim estate planning attorneys are experienced with working with same-sex couples and understand how to use provisions within your plan that will maximize the benefits available to you. Call our office today at (714) 282-7488 for a consultation.