You engaged T. Chiu Law to create an effective estate plan to carry out your wishes for the management of assets. However, your estate plan was drafted to be amendable so that changes can be made as your circumstances change. If the response to any of the following questions is “yes,” please contact the Firm to discuss how that life change might affect your estate plan.
- Did you get married, add to your family (child, grandchild) or lose a family member?
- Did a child of yours get married?
- Has the maturity of your child changed since the last update to your estate plan?
- Is a spouse or beneficiary under your estate plan experiencing a serious illness or incapacity?
- Have you experienced a significant change in your net worth? Or has a beneficiary under your estate plan experienced a significant change in net worth?
- Did you move?
- Did you acquire new property?
- Did you open new accounts? For example, savings, checking, brokerage, college savings (529), or retirement accounts?
- Did you buy a new life insurance policy or annuity?
- Do you invest in crypto? Such investments change regularly, and an annual meeting to revisit title can keep your estate plan up to date.
- Did you acquire a firearm?
- Did you invest in a friend’s business or maybe even started your own?
- Have you retired?
- Did relationships with your trusted advisors or beneficiaries under your estate plan change?
- Did you receive an inheritance?
If any of the above applies to your situation, you may wish to consider updating your estate plan. Contact the Firm to discuss the options available to you.