Major Life Changes? It’s Time to Update Your Estate Plan
Life is full of changes—some expected, some unexpected. Marriage, divorce, welcoming a new child, or a significant career shift can all impact your financial and legal landscape. While you may already have an estate plan in place, it’s crucial to revisit and update it to reflect these major life events and ensure your wishes are honored. Keeping your estate plan current provides peace of mind, knowing that your loved ones will be cared for according to your intentions.
Why Updating Your Estate Plan Matters
An outdated estate plan can lead to unintended consequences, including legal complications, unnecessary taxes, and assets not being distributed according to your current wishes. Without regular updates, your plan may no longer align with your financial situation, family dynamics, or changes in state and federal laws. Minnesota estate law evolves over time, and failing to adjust your plan accordingly could put your legacy at risk.
By reviewing your estate plan periodically, you can:
Why Updating Your Estate Plan Matters
An outdated estate plan can lead to unintended consequences, including legal complications, unnecessary taxes, and assets not being distributed according to your current wishes. Without regular updates, your plan may no longer align with your financial situation, family dynamics, or changes in state and federal laws. Minnesota estate law evolves over time, and failing to adjust your plan accordingly could put your legacy at risk.
By reviewing your estate plan periodically, you can:
- Ensure your assets are distributed to the right beneficiaries.
- Minimize tax burdens for your heirs.
- Appoint the right guardians for minor children.
- Update your power of attorney and healthcare directives.
- Protect your business interests in case of unexpected events.
How We Support You Through Life’s Changes
A common concern from our clients is: “I have a plan, but what happens when things change?” To address this, we offer our Estate Plan Tune-Up Program, designed to help you keep your estate documents aligned with your evolving needs. Here’s how it works:
A common concern from our clients is: “I have a plan, but what happens when things change?” To address this, we offer our Estate Plan Tune-Up Program, designed to help you keep your estate documents aligned with your evolving needs. Here’s how it works:
- Scheduled Reviews – Every three years, we offer a complimentary meeting to review your estate plan and ensure it still reflects your goals.
- Legal & Financial Updates – We’ll inform you of any changes in Minnesota law that may impact your estate and suggest necessary adjustments.
- Role & Responsibility Check – We’ll revisit who will act on your behalf and whether your chosen representatives are still the right fit for your wishes.
- Fixed Pricing for Updates – If modifications are needed, we provide a clear, fixed-cost estimate, so there are no surprises.