It’s impossible to know what will happen in the future, but there are certain steps a Louisiana adult can take that will allow him or her to have some control over specific things. These plans often require adjustments and changes to match current circumstances or shifts in long-term goals. Every person with an estate plan would be wise to occasionally evaluate existing documents and take steps to bring them up to date.
Factors to consider
Significant life changes and other factors likely necessitate changes and adjustments in an existing estate plan. Some major events, such as a divorce, remarriage, the birth of new children and other circumstances probably mean one should look carefully at his or her plans. Other factors that could necessitate updates to an estate plan include:
- A move to another state
- Significant changes in tax laws
- Need to have a health care or financial power of attorney
- Desire to control distribution of wealth through a trust
It is not always easy to know what changes are necessary when doing a checkup on an estate plan. It can be helpful to seek an evaluation of a plan in order to know what changes and updates are necessary.
When making decisions about an estate plan, it is helpful to discuss options with an experienced Louisiana attorney. A careful look at current documents and other circumstances can reveal what changes could be necessary. Knowledgeable guidance is crucial when making long-term plans and maintaining a strategy that allows one to control wealth and property in the future.