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Should I Review My Estate Plan for the New Year in New York?

Should I Review My Estate Plan for the New Year in New York?

With life’s unexpected twists and turns, you will want to make sure that your estate plan is always covered every new year. Reach out to our skilled Rockland County wills, trusts & estates attorneys today to learn more about how we can help you plan for the future.

What aspects of my estate plan may need revising?

Oftentimes, life is unpredictable. Because of this, it is recommended that you modify your estate plan to reflect these life changes. Keep reading to learn about the many scenarios and elements of your estate plan that may need updating. They include:

  • You recently had a child and wish to appoint a guardian: If you recently had a child, this part of your estate plan should be your number one priority. This is because if you were to pass away while your child is still a minor, without choosing a guardian for your child, the court would have to decide.
  • You were recently married (or divorced): Marriage and divorce play a huge role in estate plans. For example, if you recently divorced and you were to pass away while your former spouse is still a beneficiary of your will, he or she will most likely get those assets.
  • A new child in the family: In the event that you or your children newly birthed or adopted a child, you may want to review your estate plan to assure asset distribution better mirrors your newly-expanded family when the moment comes.
  • One of your beneficiaries has predeceased you: On the other hand, if one of your beneficiaries has recently passed away, you should change your estate plan to match this change. If you pass away and certain assets are still set to go to someone who is already deceased, it can result in serious confusion amongst your family.
  • Tax laws have changed: Even something as ordinary as a change in the tax law in New York can be a good cause for retaining the services of an attorney to check your estate plan to ensure everything is balanced.

To learn more about why you should update your estate plan in the New Year, reach out to our skilled firm today. With the help of one of our Rockland County wills, trusts & estates attorneys, you can ensure you obtain the legal support you need to make sure that you and your future are covered.

Contact our Firm

The Lauterbach Law Firm is proud to serve clients throughout Rockland County who are faced with legal matters related to estate planning, real estate, foreclosure defense, landlord-tenant law, business law, and criminal defense. If you require the services of an experienced team of attorneys, contact The Lauterbach Law Firm today to schedule a consultation.

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