Estate planning is a much broader concept than just having a will. Many people have a “one and done” approach and believe that if they have a will, that covers everything. However, various life changes could mean that your will could become outdated, and if you are unfamiliar with the Estate laws in your State, the provisions of your will could cause issues for future generations.
If you do have a will, the first question to ask is how old is it? Have you accounted for any new additions in your family or any unfortunate departures? Have you accounted for any new laws or accounting changes that may allow for you to preserve more of your assets for future generations? Your legacy is too important to put on the back burner.
If it has been over five years since you drafted a will, it is highly recommended that you update your will. If it’s been ten years or more, then it is absolutely imperative that you review and update your will!
Please call Lanza Law Firm now to set up an appointment and we will guide you through the entire process of Estate Planning.