Why You Should Update Your Estate Plan
Channel: Dixie Law Group, PSC
Date: 2021-08-25

Hello, I'm Justin May with the Dixie Law Group in Louisville, Kentucky. And today, we're going to talk about three reasons why you should update your estate plan.

The first reason might be a change in family members. And what do I mean by that?
I mean, you have grandkids, you have kids, you get divorced, you get remarried, anything like that. If there's a change in circumstance with family members that are going to be involved in your estate plan, then you need to go back and take a look at it.

A second reason to potentially update your estate plan is a change in financial situation. What do I mean by that? I mean, maybe you bought a lake house, maybe you bought a boat, maybe you bought a horse, I don't know, whatever.

If you made a major purchase in the last three to five years, you need to make sure your estate plan reflects those changes.

A third reason to take a look at your estate plan is a change in laws. Now, I'm guessing y'all don't jump on the legislature's website and check every single law that gets passed every year just to make sure that your taxes, and all your stuff, and your estate plan is lined out the way you want it to be. But, we have people here that do that. So, you want to call and get that checked out.

You want to think about that every three to five years because the laws do change, and it will affect you and your estate plan.

Estate planning doesn't end with your signature. If you haven't checked out your will or had someone check it out in the last three years, and I mean really check it out, give us a call, and we'll help you through that.