Spring cleaning is a ritual many of us grew up with – and it’s a great time to review and update your estate plan so you ensure yourself, your family and your assets are taken care of no matter what.
Other than Springtime, here are the other times in life when it is critical that you call us to review your estate plan for changes and updates:
Getting Married or Divorced – if you are getting married or recently divorced it's a great time to update your estate plan. Even if you have a premarital agreement, you should specifically include or exclude your new spouse in your estate planning documents.
Death of a Loved One – If a loved one has passed recently, call us to help you administer the estate and to assist you with updating your plan.
Children – if you have a new child or a grandchild, or if one of your children predeceases you it is a good time to review your plan and determine if any changes are warranted.
Financial status – if your financial status has changed significantly, for the better or the worse, call us so we can review your plan. Currently, each of can pass $11,400,000 estate tax free. This limit, however, is set to expire at the end of 2025 and there is already talk from some presidential hopefuls to reduce it to $3.5m per person.
Health – if you have been diagnosed with a serious illness (or if a parent has) it’s time to review and update your estate plan, even though it may be the last thing you want to do. We promise it’ll make you feel better than you think.
Inheritance – if you are coming into a large inheritance or even just anticipating one, give us a ring so we can help you plan for it properly.
Business – if you own a business and are thinking about selling it, call on us before you take any action.
Gifting – if you want to make a sizeable gift to a charitable organization, talk to us before you do.
Relocation – if you are moving to another state or buying new property, call us to restiew assets into your trust.
If you’d like to Spring Clean your estate or are in the midst of any of these changes, call our office today to schedule a time for us to sit down and talk.
One of the main goals of our law practice is to help families like yours plan for the safe, successful transfer of wealth to the next generation. Call our office today to schedule a time for us to sit down and talk about your estate plan, where we can identify the best strategies for you and your family to ensure your legacy of love and financial security. Our office is located in Santa Ana, CA but we serve all of California including Irvine, Orange, Tustin, Newport Beach, and Anaheim.