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A second marriage is a good reason to update an estate plan

On Behalf of | Dec 10, 2019 | Uncategorized

Let us say that you are in your middle years and have married for the second time. The wedding on the beach in Hawaii was all you could have hoped for, and you are in a state of bliss.

However, once you return to reality, you should spend some time thinking about your estate plan. Obviously. a lot has happened in your life recently, and it is time for an update.

Avoiding family issues

You may be well off, but even people of moderate means should at least review and perhaps revise their estate plans every few years. Many people put this off because they resist having to make difficult decisions. However, neglecting your estate plan could result in family disputes down the line, and you may not be around to resolve those disagreements.

Government matters

Laws change, and they may impact your estate planning efforts. For example, if you have moved from one state to another, you should check with an attorney to see if your previous will conforms to the new state requirements, because each state has its own legal guidelines.

Acknowledging change

Like many people, you may have created your estate plan years ago, then put the documents away for safekeeping. This is a classic illustration of out of sight, out of mind. No doubt there have been changes in your life. Your son may have married, and now you have a little granddaughter. Meanwhile, you divorced and, of course, you recently remarried. Perhaps you also acquired a vacation home within the past couple of years or sold a piece of property that you decided not to build on. In fact, the value of your estate may have increased substantially. These are all major changes, any one of which should have triggered the idea of an estate plan update, but perhaps it took that spectacular wedding in Hawaii to nudge you in the right direction. Rely on legal guidance to help you bring your estate plan up to date so you can relax and enjoy marriage the second time around.

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