Modifications to Estate Plans

Chico Estate Planning Attorney

If you have completed your estate plan, you should be proud of yourself for planning ahead. If you have completed your estate plan and now need to make changes to it, you should not worry. Despite the importance of a well-drafted estate plan, they are not exactly “permanent.” When it comes time to make a change, our Chico estate planning lawyer can help you through the process with as little trouble or delays as possible.

You can contact our office online or call 530-898-1488 to begin.

Why Would I Change My Estate Plan?

Estate planning is often described as something that needs to be done, but only needs to be done once. For many people, this is absolutely true, but for many more, modifications to estate plans do become necessary throughout the years. To ensure that your loved ones will be taken care of after you are gone, and that your estate is handled to your wishes and expectations, you should take a day each year to review your own estate plan and determine if you have to make changes.

Reasons an estate plan should be modified include:

  • Marriage: If you made your estate plan while you were young, possibly due to coming into a considerable sum of money, you might not have been married at the time. Now that you have found a new spouse, be sure to change up your plan to include them.
  • Divorce: Even the happiest and most-promising of marriages can end in divorce. While you are sorting out your divorce agreement, do not forget that your estate plan should be modified as well to remove them from your will or trusts.
  • Children: Did you remember to modify your estate plan after you welcomed a new baby into your life? Perhaps one of your adult children has recently shown more responsibility and promise? Think about modifying your estate plan to increase their inheritance. The opposite may also be necessary if you feel you can no longer trust someone in your family with a piece of your estate, such as a business or home.
  • Gain or loss: Careful planning can keep your estate fairly stable but the unexpected does happen, and happen quite often. If you are lucky, your estate will grow rather than decrease. Either way, you should modify your estate plan to account for the differences in value.

Our Chico Estate Planning Lawyer Makes It Easy

Changing a will can seem like a straightforward process but it can easily get bogged down with complications, especially if parties interested in their inheritance get in the way. Modifying a trust may be even more complicated due to legal statutes and whether or not it is revocable or irrevocable. To make things simple on yourself, retain the services of Attorney Nikki Farris and pass all the paperwork over to her. She can get you started on your estate plan modifications with ease and with a calm peace of mind.

Want to know more? Contact us today and we would be happy to talk to you.

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