Zuvich Law Logo
  • Nicole J. Zuvich

When should you change or update your estate plan?

Updated: Sep 27

Too many New Yorkers view estate planning as a one-and-done process. In fact, an estate plan can be a fluid set of legal documents that change and need to be changed over time. There are many life events that can cause a person to want or need to change their estate plan, and this post will discuss a few of those circumstances. However, whenever an individual has questions about estate planning, they can turn to their trusted estate and administration lawyers for answers.

Changes in marital status

One of the most common reasons that people must change their estate plans is when they divorce. At the end of a marriage, an individual may no longer want their soon-to-be ex to benefit from or have control of their estate. Going through a divorce or a remarriage can require a person to change beneficiaries, executors, and other designations on their wills, trusts, and non-probate accounts.

Changes in family size

The birth or adoption of a child can mean big changes for a childless couple’s estate plan. Suddenly new parents must contemplate how their child will be cared for, and by whom, in the unlikely event they are both unable to provide such support. As individuals grow their families, their estate plans may require updates.

Changes in the law

As previously discussed on this blog, the federal government may alter just how much of a person’s estate may be protected from taxation at the time of their death. If the government lowers the estate and gift tax thresholds, many individuals may want to reevaluate their estate plans to protect their wealth from taxation.

Estate plans can and should be changed when circumstances warrant. To better understand how and why these alterations should be made, readers may contact their knowledgeable local estate planning attorneys.

Recent Posts

See All

You have to take a variety of issues into consideration when setting up an estate plan, whether you need to figure out who to place in charge of your estate after your death or you have difficult deci

Connect With Us

Disclaimer

Attorney Advertising. Prior results do not guarantee future outcomes.  Interaction with this site or contacting us via email, phone, or online forms does not establish an attorney-client relationship.  Do not send personal private information.  The attorneys of The Law Offices of Nicole J. Zuvich, P.C. practice primarily in the State of New York and may not be licensed in your jurisdiction.  The information on this website is for information purposes only and is presented "as is."  The law frequently changes. Information on this site may be incomplete or out of date.   See full DISCLAIMER here.

Zuvich Law Logo

400 West Main Street, Suite 332

Babylon, NY 11702

PHONE: (631) 840-6580
FAX: (631) 840-0084

1050 Franklin Avenue, Suite 308

Garden City, NY 11530

©2022 The Law Offices of Nicole J. Zuvich. All Rights Reserved.