${site.data.firmName}${SEMFirmNameAlt}
Throughout Southern California
310-324-9403
Toll-Free
866-402-1805
View Our Practice Areas

Are Your Estate Plan Legal Documents in Need of Review?

6a017d3e6b2617970c019102fb9781970c-320wi.jpgWhen was the last time you looked at your will? If you can't remember, it is time for a review. Having outdated legal documents, such as a will or power of attorney, can wreak havoc on your health and your family's wealth.

Proper estate planning is an activity - it's an ongoing process. Proper planning, then, means ensuring that your documents, your will, your directives, and your beneficiary designations are always updated.

No one said proper estate planning was an easy task. Once signed, sealed and delivered, most of us would rather not reopen and revisit the decisions contained in legal documents focused on our own morbidity and mortality.

This natural reluctance is the focus of a timely MarketWatch article titled "Make your heirs happy: Update your will."

According to a recent Consumer Reports survey, 86% of respondents who had wills or other estate documents had not updated them within the past five years. How much happens in five years?! Five years ago it was 2008, the time of the market crash and the destruction of so much wealth and planning in the real estate crash. In addition, the last five years have witnessed five different taxation regimes governing estate and gift taxes.

Aside from financial and tax changes, what about changes closer to home? How many new family members are there and how many have passed? And how much has your own perspective on the world changed?

While there are logical reasons to review your legal documents once created, there is also an emotional reluctance to do so. Accordingly, it is best to make this another one of your scheduled "to do" items on your calendar.

As the MarketWatch article confirms, following through on your regularly scheduled estate plan review and update will make your heirs happy, and ensure that your own decisions are honored.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Find Out The Difference That Experience And Expertise Makes

Get the peace of mind that you deserve. First, attend a seminar. This will entitle you to a free initial consultation and a discounted estate planning fee. To learn more about our services or sign up for a seminar, contact us online or call us at 866-402-1805. We have offices in Torrance, Orange, Newport Beach, Pasadena and Woodland Hills.

Questions? Contact Us.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Call Now For A Free Consultation: 866-402-1805
  • ${site.data.firmName}${SEMFirmNameAlt}
  • Main Office: Torrance

    Torrance Office
    990 West 190th Street
    Suite 500
    Torrance, CA 90502

    Toll Free: 866-402-1805
    Map & Directions

    Orange Office
    333 City Boulevard West
    17th Floor
    Orange, CA 92660

    Toll Free: 866-402-1805
    Map & Directions

    Newport Beach Office
    5000 Birch Street
    Suite 8000
    Newport Beach, CA 92660

    Toll Free: 866-402-1805
    Map & Directions

    Pasadena Office
    790 East Colorado Boulevard
    9th Floor
    Pasadena, CA 91101

    Toll Free: 866-402-1805
    Map & Directions

    Woodland Hills Office
    5850 Canoga Avenue
    4th Floor
    Woodland Hills, CA 91367

    Toll Free: 866-402-1805
    Map & Directions

    Office map
Check out The Law Firm of Kavesh, Minor & Otis on Yelp
Check out Kavesh Minor & Otis on Yelp
Check out The Law Firm of Kavesh, Minor & Otis - Orange on Yelp
Check out The Law Firm of Kavesh Minor & Otis - Pasadena on Yelp