
If you’re like most people, you might see estate planning as another task to check off your endless to-do list. You hire a lawyer or use online tools to create documents, file them away, and assume your family is protected. But estate planning isn’t a one-time job – it requires regular updates to stay effective. Otherwise, it might fail when your family needs it most.
A Real-Life Lesson in Estate Planning Failure
A powerful example of this comes from Ali Katz, founder of New Law Business Model. When her father-in-law passed away, he had paid $3,000 for an estate plan he believed would spare his family from probate court and legal hassles. Unfortunately, that plan was outdated, and his assets weren’t correctly titled in his trust. As a result, his family faced court proceedings and disputes, including conflicts with his ex-wife, and some assets remain unclaimed to this day.
This wasn’t malpractice – it was standard practice for many lawyers. That experience drove Ali to develop a family-centered approach to estate planning.
Will Your Estate Plan Work?
Many families find out too late that their plans are outdated. Changes in assets, family circumstances, or laws can render a plan ineffective. That’s why reviewing your estate plan annually and after major life events – like births, deaths, or divorces – is essential.
Our process ensures your plan is always current and effective. We engage not just with you but also with your family, educating them and keeping everyone informed. This collaborative approach minimizes misunderstandings and ensures your loved ones are prepared.
Keeping Plans Up-to-Date
We take the guesswork out of maintaining your estate plan. Here’s how we ensure your plan works:
- Asset Inventory: We create and maintain a detailed inventory of your assets to ensure nothing is overlooked.
- Trust Funding: A trust is only effective if your assets are properly titled in its name. We ensure assets are correctly funded and help you update this as your financial situation evolves.
For the Love of Your Family
At Cheever Law, APC, we don’t just draft documents; we ensure you make informed and empowered decisions about life and death for yourself and the people you love, starting with a valuable and educational Life & Legacy Planning Session. This will allow you to get more financially organized and make the best choices for the people you love. If you have already completed your estate plan, we will review that plan at your Life & Legacy Planning Session to ensure that it will work the way you intend and address any holes or gaps that may be present if circumstances have changed since you executed your plan.
To learn more about our one-of-a-kind systems and services, contact us or schedule a no-obligation 15-minute introductory phone call today.