4 Times When You May Need to Amend a West Palm Beach Estate Plan
Are you considering amending your estate plan? Experienced Palm Beach probate litigators know that there are certain life events that should trigger you to think about your estate plan. That being said often times individuals have other things on their mind and amending gets put on the back burner. Here are four times to really remember its time to amend that estate plan in West Palm Beach.
Divorce
- Divorce is hard on anyone but there a lot of things to remember after the fact, one of which is that you should probably amend your will.
- The Florida Legislature has done some of the work for you though by striking your ex spouse’s name from your will and other non-probate assets like your IRA.
- That is of course unless keeping those designations was part of the divorce agreement.
- Either way if you are recently divorced or going through a divorce you should talk to a West Palm Beach estate planner.
Marriage
- Marriage is a time to not only cherish but also consider talking to an estate planner.
- This does not just include your own marriage.
- You may want to talk to an estate planner after your children (or grandchildren) get married as well if you are worried about how that is going to change your estate plan.
- It is not uncommon for wealthy individuals in West Palm Beach to be concerned about gold diggers marrying their relatives.
Kids
- If you have recently had kids or grandkids it may be time to talk to an experienced Palm Beach estate planner to discuss this.
- For example you may want to arrange a trust to set aside funds for college.
- On the other hand you may just want to set up everything for when you are gone.
- Estate planning needs change when you have children, and having new children means they need included in the plan as well.
Property
- Another time to consider revising your estate plan is when you have inherited or recently come across a large amount of money or property.
- You are going to want to protect your assets and also your estate plan should reflect your new found assets.
- Is it time for you to revise?