When Rick and Susan drafted their estate plan 20 years ago, they felt an enormous sense of relief. They created wills, set up a trust for their kids, and designated guardianship in case anything happened to them. At the time, it felt like they had checked an important box. But over the years, life changed—Rick started a business, one of their children married and had kids of their own, and new laws around estate taxes were enacted. Their plan, however, stayed the same.
When Rick passed away last spring, Susan learned the hard way that an outdated plan can cause almost as much confusion as no plan at all. The business wasn’t included in the trust, leaving it tied up in probate. The guardian they had named for their now-adult children was unnecessary. And while their wills were still valid, they didn’t reflect the family’s current dynamics or needs. Susan spent months navigating legal challenges that could have been avoided with a simple update.
This year, resolve to keep your estate plan as current as your life. Key resolutions to consider include:
Reviewing Beneficiaries: Outdated beneficiaries on retirement accounts or insurance policies can lead to assets being distributed to the wrong people.
Updating Wills and Trusts: Reflect changes in family dynamics, financial situations, and legal requirements.
Organizing Important Documents: Ensure your family knows where to find powers of attorney, healthcare directives, and insurance policies.
Don’t let an old plan create new problems. Start 2025 with an estate plan that works as intended. Request a Consultation or Register for a Workshop to get started.
Trusts & wills
Here’s a story you wouldn’t believe if it weren’t true: a TV executive dies, leaving behind a multimillion-dollar estate - and a legal battle between his estranged wife and long-term partner. Properties across Europe.
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Trusts & wills
Financial wellness is about more than building wealth - it’s about protecting what you’ve built. Too often, families assume that a simple will is enough to safeguard their future, only to discover its limitations when life throws them a…
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Keeping a plan current
Across the country, families are gathering for Friday night lights, Saturday college rivalries, and Sunday afternoons spent cheering on their favorite teams.
·4 min readThe workbook helps you clarify what you want your plan to accomplish, identify possible gaps, prepare the right people, and decide what to do next, whether this is your first revocable living trust-based estate plan or you are reviewing an old one.
Separately, you can subscribe to A Matter of Trust, a weekly newsletter from Tamara featuring practical estate-planning guidance, thoughtful reflections on family and legacy, and other estate planning ideas worth passing along. Sign up for one or both.
Estate planning is a process, not an event. Start with a Right Fit Call: a short, no-pressure conversation to see whether we are the right firm for your family, and what a plan that walks alongside you would look like.
