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What should a person do with estate planning documents?

On Behalf of | Nov 12, 2019 | Estate Planning And Litigation |

When a Californian makes the effort to plan for the future, he or she may think that once it’s all drafted, that’s all someone needs to do. It can be tempting to forget about estate planning documents until they’re needed, but that’s not always wise. In reality, these documents and important paperwork should be carefully reviewed occasionally, especially after a major life change.

One thing a person will need to do is review ownership of assets. A person will need to make sure that beneficiaries and heirs will have easy access to important assets and accounts. This will make it significantly easier in case of incapacity or unexpected death. When there is a question over ownership of an asset or disputes over something that is jointly owned, it can make things complicated in the future.

It is also be beneficial to look at beneficiary designations. These things may need to change after a divorce, a death in the family or remarriage. An estate plan may only be good for a limited amount of time, and it can be helpful to make sure that life changes and other factors do not necessitate changes and updates to certain types of documents.

Estate planning can be a complex and complicated process, especially because it involves emotional and difficult decisions about the future. It may help for a California resident to look at this or her documents occasionally or have an experienced attorney review existing plans. Major life changes and unexpected things happen, and estate plans should be adjusted accordingly.

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