Due to life changes, maintaining estate plans can overwhelm most people. And let’s face it. Calling your estate planning attorney may not immediately occur to you when you’re faced with change. For example, a significant shift in income, investments, or employment. Nevertheless, consulting with us will help maintain your legal health.
These five events should prompt estate plan action:
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Have you opened a new retirement account or established a new retirement plan?
Planning for retirement is crucial. A solid retirement plan can provide peace of mind. Work with your financial advisors to structure a retirement plan to meet your needs, wants, and goals. Remember, if you open a new account, review and potentially update your estate plan. You may even need to fund a new taxable investment account into your trust. Have you set up or started contributing to a tax-deferred account? These include a 401(k), IRA, Roth IRA, employee stock ownership plan, or another type of retirement plan. If so, contact us about your estate plan. We should make certain that your beneficiary designation is accurate. -
Did you start a new job?
A new professional opportunity comes with challenge as well as financial change. Take a new retirement plan into account. A new company may equal the need for a new account. You may also want to review new employer-sponsored life insurance. We can help verify that your life insurance beneficiaries remain up to date. -
Have you kept the same job?
Change is good. So is stability. If you are working in the same job as you were last year, consider this. Life insurance open enrollment is in full effect. Don’t forget to verify your life insurance beneficiaries and retirement plan benefits are in order.
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Do you have teenagers?
When your son or daughter turns 18, significant change in legal status should be taken into account. Schedule a meeting with us to learn what you and your teen should do as he or she enters adulthood.
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Did you start a business?
Entrepreneurship is a bold step! Take precautions to ensure that your business remains protected. Consider business entity issues, tax planning, and growing your business. These share estate planning implications.
Let us help safeguard the health of your estate. We would be happy to bring our attention, experience, and care to the big changes in your life. Together, we can develop or enhance your estate plan to meet your goals and secure your family’s future.
About Skvarna Law
A skilled attorney can assist with your estate plan. Contact us today to learn about your options (909) 608-7671. We operate offices in Glendora and Upland, California. We provide legal services for individuals living in San Bernardino, Los Angeles, Orange and Riverside Counties. This includes the cities of Upland, Ontario, Rancho Cucamonga, Fontana, Colton, Rialto, Chino, Chino Hills, Glendora, Claremont, Montclair, Pomona, La Verne, San Dimas, Azusa, Covina, West Covina, Diamond Bar, Walnut, La Puente, Corona, Norco & Mira Loma. Visit SkvarnaLaw.com to learn more.
