Houston Estate Planning and Elder Law Attorney Blog
If you have taken the first step and created your will with the help of a Houston estate planning attorney, know that you are making important strides toward protecting your loved ones long after you are gone. Even after you write your will or estate plan, however, it is still important to update that will as time goes on. Today’s blog post answers the question of when your will is too old and why you should consider updating your estate plan.
Updating Your Estate Plan Every Three to Five Years
As a general rule, you should update your estate plan every three to five years. If your will is over five years old, it might be outdated. As the legal landscape changes, so should your estate plan, and this “three to five years” rule can help you make sure your estate plan remains legally and procedurally above board. It can also help you ensure your will always reflects your current priorities and desires.
Updating Your Estate Plan After Major Life Events
Additionally, you should update your will after every major life event. These life events could include a marriage, a divorce or separation, the birth of a child, the death of a beneficiary, or the purchase of a business. A major life event could also mean coming into a significant amount of money, property, or other assets. On the flip side, it could mean suddenly owing a significant debt. Other events to consider could be the imposition of alimony payments, child support payments, or any court-ordered fees.
There is, unfortunately, no exhaustive list of events that should trigger an update to your will. At the end of the day, you should decide when to update your estate plan in consultation with a trusted Houston estate planning attorney. By maintaining close contact with a lawyer that you know has your best interest at heart, you can ensure that your estate plan will reflect your current priorities, as well as any recent changes in the field.
Do You Need a Houston Estate Planning Attorney for You and Your Family?
At McCulloch & Miller, we are proud to be experts in all steps of the estate planning process. If you are looking for the right legal team to help you craft the perfect estate plan for your individual circumstances, give our firm a call. Our group of Houston estate planning attorneys has the experience to help you get it right the first time, and we make sure you have the tools you need to update your estate plan when the time comes.
If you would like to set up a call with one of our Houston estate planning attorneys at McCulloch & Miller, give us a call at 713-936-9073. You can also fill out our online form to tell us about yourself and have a member of our team contact you as soon as possible regarding next steps. Our firm covers estate planning, probate administration, elder law, special needs planning, public benefits planning, and more.