Home » When To Review and Revise Your Will: 5 Life-Changing Events
When To Review and Revise Your Will: 5 Life-Changing Events
Posted on : June 29, 2017, By: Christopher Hildebrand
When To Review and Revise Your Will 5 Life Changing Events.
When To Review and Revise Your Will
Estate planning is a necessity for everyone. Regardless of your age, marital status, or financial standings, you should have all the legal paperwork in place to handle your estate in the event of your death. Having this legal paperwork prepared ensures that your wishes are followed and that your loved ones are protected after you are gone.
Once you have created an estate plan, it is important that you revise it on a regular basis. Things change in everyday life that may have an impact on your estate. Five life events occur that should automatically signal that you need to review the terms listed in your estate plans.
Marriage or Divorce: Your marital status will have a significant impact on all of your estate planning. If you have recently married or have recently divorced, it is time to review all of the terms of your estate plan.
Birth or Adoption of a Child: Now that your family has expanded, it is time to make sure the newest member is protected. Adding your new child to your estate plan will ensure they are protected after you have passed away. You may also wish to change your estate documents after a child leaves home or marries.
The Death of a Beneficiary: If anyone you have named as a beneficiary of your estate has passed away, it will be necessary to make revisions. Additionally, if a person is named as executor of the estate or named for any other legal purposes in any of your estate documents and passes away, you will need to create new documents to protect yourself in the future.
Personal Injury Settlement: If you have been awarded a personal injury settlement, it’s necessary to make provisions on how any remaining payments will be distributed from your estate. These agreements are often seen as separate assets and must be addressed in your legal paperwork. Speak with your estate lawyer Sacramento about this matter to see the most logical way to handle this life-changing event.
Inheritance: If you are the beneficiary of property, goods, or other assets, you will need to make provisions for your future on how these assets are further distributed after you pass away.
I just want to again thank the Firm for working with me all that it has. I could not have done anything without everyone's assistance. You, Chris and Stacey have been and continue to provide me with compassion and hard work towards my case. Also a very special thanks to Kip for taking my case in the beginning. Also continued support from him and his dedication to providing me with his expertise in this matter.
Dear Stacey and Kip, How can I ever thank you enough for helping me through the most difficult time in my life? I couldn't put into words my heartfelt gratefulness. You both were so compassionate and professional at every given moment throughout this process with me. I thank you from the bottom of my heart. You helped me to regain my freedom.
Chris is a smart and aggressive attorney for his clients. Chris always tries to reach a fair settlement of his cases. I’ve represented clients when Chris was the opposing counsel and while he is professional and amicable to work with, he does not back off on what he needs to do for his client
I retained Hildebrand Law after interview a number of firms in the valley. Working with Michael C. was incredibly easy and informative. My case progressed in such a organized and thought out way to ensure that my needs were met. Michael was incredibly proactive and was able to see far ahead into my case to steer clear of some roadblocks. I would not hesitate to recommend Michael Clancy, and Hildebrand Law in general, to anyone.
I have worked with Hildebrand law for about 8 years. They are always ready to serve, provide guidance and give you a few options. When they provide you options they also take the time to walk you through the pros and cons of each and give you a recommendation of what is best, but will listen to you and support whatever course you choose after making and educated choice. I’d recommend them to my closest friends and feel Chris Hildebrand is now a friend to me.
Despite the unfortunate situation I found myself in, Chris Hildebrand @ Hildebrand Law helped me maneuver every step with professionalism, expertise, and even a sensitivity that was an added bonus.Chris and his staff helped me even when I didn't know I needed the help. In other words. . . they made sure we did not leave anything undone. And in the rare instance we needed the expertise of another professional, Chris knew exactly who to recommend.Chris also knew, because of his experience, what to anticipate down the road of litigation. That meant we were better prepared to meet the challenges head on, which lead to a more equitable and fair outcome. I appreciated that Chris did his best to meet my every need in a timely fashion, even if I had a simple question that required only a phone call or e-mail or if we needed to talk face-to-face.I highly recommend Chris Hildebrand @ Hildebrand Law, PC.
I cannot express enough how thankful I am that I found Hildrebrand Law. Chris Hildebrand is an excellent attorney who has my best interests in mind and always encourages me to do the right thing regardless of what the opposing party is doing. Chris knows family law very well and relies on that knowledge to format options and solutions for each situation that may arise. He knows what the Court expects and what will and will not be tolerated. He has attempted to settle this case quickly and as inexpensively as possible from the start. His paralegal, Laura, is remarkable. She is organized, quick to respond, and compassionate. Chris is well prepared with a binder full of detailed and organized information and that is likely due to her thorough skills and expertise. While getting a divorce that was unexpected is a painful and difficult process, Chris and Laura treat my family and I like friends rather than another just "client." I am hopeful that I do not need to recommend divorce lawyers to anyone in the future but if I do, Hildebrand Law will be a recommendation I would give hands down.
I interviewed several firms and selected Hildebrand Law for my difficult military divorce as a direct result of their whole family concern and integrity. During the interview process the professionals at Hildebrand Law were as concerned for the well being of my children as I was and ensured that they presented several options along the way to ensure that we protected my children's needs as well as my financial situation. At each decision point they laid out a clear path, how it impacted the children, the financial situation. They even reminded me that my ultimate stated goal was the best interest of my children each time the other party got particularly challenging and my frustration was getting the better of me. The owner handled my case personally and was exceptionally well versed in the unique aspects of a divorce involving the military and associated benefits. Won't need them again (fingers crossed!!! 🙂 ) but would totally recommend them to anyone!
We had a fairly complicated case in Family Court and Juvenile Court. Kip was an excellent attorney. He covered every base there was to cover and left no stone unturned. I would highly recommend him to anyone going through custody proceedings. Hildebrand Law is an excellent law firm and I am confident that Kip or any of their other attorneys would do an excellent job! Thanks Kip and Hildebrand Law!
The firm of Hildebrand Law is top notch. It's necessary to state again that Kent Millward is the epitome of excellence in a vast community of attorneys and will fight valiantly for you. We hired Kent and discovered a very good attorney with a good heart. For great family law representation and more this is the Law Firm for you. To Chris, Kent, Alison and all of Hildebrand Law,Thank you so much!
If you have a question about estate planning in Arizona, please call to speak to one of our experienced Scottsdale and Phoenix Arizona estate planning attorneys at (480)947-4339.
5 Life Changing Events that should result in a change in will.
Estate planning is more than just designating beneficiaries and distributing assets. It is a legal way to protect yourself if you become incapacitated, establish who will make medical and financial decisions if you become unable, and protect your estate from excessive tax burdens.
Everyone is encouraged to speak with an estate planning lawyer as soon as possible to create the legal documents necessary to protect themselves and their loved ones in the future.
Thanks to our friends and contributors from Yee Law Group for their insight into estate planning practice.