{"id":3491,"date":"2017-01-24T11:00:14","date_gmt":"2017-01-24T19:00:14","guid":{"rendered":"http:\/\/ssslegalconsultancy.com\/?p=3491"},"modified":"2017-01-12T18:33:38","modified_gmt":"2017-01-13T02:33:38","slug":"wondering-whether-need-update-estate-plan-yes-heres","status":"publish","type":"post","link":"https:\/\/ssslegalconsultancy.com\/wondering-whether-need-update-estate-plan-yes-heres\/","title":{"rendered":"Wondering Whether You Need to Update Your Estate Plan? Yes, You Do and Here\u2019s Why"},"content":{"rendered":"<p style=\"font-family: Arial; font-size: 11pt; color: black; margin: 0pt 0pt 8pt; text-align: center;\"><a href=\"http:\/\/ssslegalconsultancy.com\/wp-content\/uploads\/2016\/10\/ee13fe9b-c77c-42c2-a41a-e2bd6b8c20e9-thumbnail.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft  wp-image-3251\" src=\"http:\/\/ssslegalconsultancy.com\/wp-content\/uploads\/2016\/10\/ee13fe9b-c77c-42c2-a41a-e2bd6b8c20e9-thumbnail.jpg\" alt=\"ee13fe9b-c77c-42c2-a41a-e2bd6b8c20e9-thumbnail\" width=\"183\" height=\"275\" \/><\/a><em>Please allow us to be frank. It\u2019s unrealistic to think that a piece of paper you draft, reflecting your life at a certain time, will work when your life has completely changed some years later. We\u2019ll use the Kendrick family as an example.<\/em><!--more--><\/p>\n<p style=\"font-family: Arial; font-size: 11.0pt; color: black; margin: 0pt 0pt 8pt 0pt;\"><span style=\"font-weight: bold;\">Meet the Kendricks<\/span><\/p>\n<p style=\"font-family: Arial; font-size: 11.0pt; color: black; margin: 0pt 0pt 8pt 0pt;\">Meet Bill and Karen Kendrick. They got their first estate plan in place when their daughter, Jessica was born 30 years ago. They updated it when their son Steve came along 4 years later. They attended one of our living trust seminars 10 years ago and got a fantastic trust-based plan in place, protecting themselves, their children, grandchildren, and dog, Sadie.<\/p>\n<p style=\"font-family: Arial; font-size: 11.0pt; color: black; margin: 0pt 0pt 8pt 0pt;\">Unfortunately, the Kendrick\u2019s didn\u2019t join our client maintenance program; instead, they elected to take on the responsibility of calling for updates themselves. Life got busy and, as you might guess, that didn\u2019t happen.<\/p>\n<p style=\"font-family: Arial; font-size: 11.0pt; color: black; margin: 0pt 0pt 8pt 0pt;\">Here\u2019s what\u2019s changed in their lives in the last 10 years. Jessica and Steve are now adults and through college.<\/p>\n<ul style=\"margin-left: .75in; direction: ltr; unicode-bidi: embed; margin-top: 0in; margin-bottom: 0in;\" type=\"disc\">\n<li style=\"vertical-align: middle; margin: 0pt 0pt 8pt 0pt;\"><span style=\"font-family: Calibri; font-size: 11.0pt;\">Jessica has married and now had two daughters. One of the girls may have autism.<\/span><\/li>\n<li style=\"vertical-align: middle; margin: 0pt 0pt 8pt 0pt;\"><span style=\"font-family: Calibri; font-size: 11.0pt;\">Steve is also married and is expecting his first child.<\/span><\/li>\n<li style=\"vertical-align: middle; margin: 0pt 0pt 8pt 0pt;\"><span style=\"font-family: Calibri; font-size: 11.0pt;\">Karen\u2019s mother is now living with them.<\/span><\/li>\n<li style=\"vertical-align: middle; margin: 0pt 0pt 8pt 0pt;\"><span style=\"font-family: Calibri; font-size: 11.0pt;\">They bought a vacation home in Florida.<\/span><\/li>\n<\/ul>\n<p style=\"font-family: Arial; font-size: 11.0pt; color: black; margin: 0pt 0pt 8pt 0pt;\">Do you think their estate plan will still work the way they want it to?<\/p>\n<p style=\"font-family: Arial; font-size: 11.0pt; color: black; margin: 0pt 0pt 8pt 0pt;\"><span style=\"font-weight: bold;\">Changes in Your Own Life<\/span><\/p>\n<p style=\"font-family: Arial; font-size: 11.0pt; color: black; margin: 0pt 0pt 8pt 0pt;\">The Kendrick\u2019s have experienced a lot of changes, but those changes might be typical of what 10 years brings. Think about the changes in your life over the past 10 years &#8211; or &#8211; since you last updated your estate plan.<\/p>\n<p style=\"font-family: Arial; font-size: 11.0pt; color: black; margin: 0pt 0pt 8pt 0pt;\">Have you moved? Do you have more children or grandchildren? Have you started a business, suffered health problems, or purchased a new home? Do you have new accounts and investments? Do you now care for a parent, pets, or dependent children? Have you remarried, gotten divorced, or retired? Has someone you loved died? Have friends named in your plan as trusted helpers moved away or has your relationship changed? Are your children now adults and able to help you? Do you want to help with grandchildren\u2019s college or dance lessons? Do you see the world in a different way?<\/p>\n<p style=\"font-family: Arial; font-size: 11.0pt; color: black; margin: 0pt 0pt 8pt 0pt;\">Many things have happened in the past 10 years. Your estate plan needs to reflect the changes in your personal life, financial situation, and goals. There have also been changes in the law and we continuously learn to protect our clients in better and better ways, so the way we do things has changed.<\/p>\n<p style=\"font-family: Arial; font-size: 11.0pt; color: black; margin: 0pt 0pt 8pt 0pt;\"><span style=\"font-weight: bold;\">Is Your Estate Plan Out-of-Date?<\/span><\/p>\n<p style=\"font-family: Arial; font-size: 11.0pt; color: black; margin: 0pt 0pt 8pt 0pt;\">If you\u2019ve experienced changes like the Kendricks or it\u2019s been more than 3 to 5 years since you updated your estate plan, it\u2019s time to come in. We\u2019ll review your plan and chat with you about what\u2019s been happening in your life, so we can get you and your estate plan up-to-date, reflecting where your life is now.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Please allow us to be frank. It\u2019s unrealistic to think that a piece of paper you draft, reflecting your life at a certain time, will work when your life has completely changed some years later. We\u2019ll use the Kendrick family as an example.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[105,52,7,82,8,18],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Wondering Whether You Need to Update Your Estate Plan? Yes, You Do and Here\u2019s Why - SSS Legal &amp; Consultancy Services<\/title>\n<meta name=\"description\" content=\"Please allow us to be frank. 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