The Language of Your Estate Plan
I have often written about the importance of updating your Estate Plan. Life happens and with it many changes in your personal and economic situation. The questions to ask yourself are: has my life changed significantly in any way over the past twelve months by life events like marriage, divorce, births, deaths, moving, retirement, job loss/significant salary reduction – these could trigger a change in your future plans. See previous articles on my website www.attorneybarbaradalvano.weebly.com under the Categories: Update Documents; Advanced Directives; Asset Titling and Beneficiary Designations.
But one factor that must be considered is also the LANGUAGE of your Estate Plan. I am not talking about English vs Spanish vs German – but rather the legal language of the individual documents of the plan. To take a simple example, if your Estate Planning documents include trust documents, changes in the law can affect how the legal language would best describe those trust documents. Or to put it another way, with changes in the law there might be a better way to describe your wishes via a trust.
Laws, like life, change and evolve.
A review of your Estate Plan documents is ‘value for money’ – you do not want estate planning documents that use ‘outdated’ legal language or that do not effectively describe your wishes into the future.
Working to Preserve Your Wealth and Protect Your Future…in a Constantly Changing World
Please read my Full Disclaimer and “How I Can Help You”
Visit my website: www.attorneybarbaradalvano.weebly.com for more articles and helpful infographics