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In every life, there are ups and downs, births and deaths, and ever-evolving family units. Your estate planning documents should keep up with these events to reflect the current makeup of your family and the heirs you want to reward.

Below are five life events that necessitate a visit to your estate planning attorney.

1. A First Marriage

estate planningAmid the excitement of walking down the aisle and celebrating with friends and family, the last things you want to think about are wills and trusts. However, it’s imperative you make time to include this momentous life event in your estate planning documents. Your new spouse and expanding family will likely hold a new, special place in your heart, and you want to include them in your legacy.

2. Remarriage

With remarriage comes a new configuration of your family. Your estate plans should be updated to mirror this change. If you don't update your plans, you could be including people in your legacy who are no longer part of your life, or, worse, excluding those who are.

3. Divorce

The end of a marriage is often a turbulent and emotional time. Once the dust has settled, visit your estate planning attorney so you can change your will, trust, or other end-of-life documents. These changes can be made with minimal stress and hassle.

4. Birth & Adoption

A new addition to a family, whether through birth or adoption, is a reason to celebrate the present. However, you also want to ensure your new bundle of joy is taken care of after you're gone. Visit your attorney to start establishing the plans that will safeguard your growing family.

5. A Major Change in Assets

Fortunes can shift for the better or worse, and you want your estate plans to echo these changes. If there has been a major modification to your assets, keep your estate planning documents current to avoid confusion and legal issues down the road.

 

Pater, Pater & Halverson Co.'s team of estate planning attorneys have been serving the Hamilton, Ohio, region for more than a century. To schedule a consultation, call (513) 867-1411 or visit their website. Keeping abreast of life events in your estate plans will help you maintain control of the legacy you leave behind.

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