While you’ve done a good job with estate planning, are you sure that all the bases are covered? At one time, that was true. Now, you wonder if some changes are in order. As life changes, it may mean you need help from a wills and trusts lawyer in Davenport, IA to amend what’s currently in place. Here are three reasons to make an appointment today.
The present will leaves the bulk of your estate to a spouse who is named specifically within the document. Given the recent divorce, you may want to rethink who is supposed to receive most of your worldly goods and assets. See a lawyer and amend the will to leave more to your children, a beloved friend, or a charity of your choice.
What happens if the trust fund set up for a child is no longer necessary, due to either death or estrangement? Assuming it’s a revocable trust, a lawyer can help you make changes to the estate planning and redirect those assets in any way that you like. Even if it was an irrevocable trust, don’t assume that nothing can be done; your legal counsel can review the situation and tell you what can be legally done to alter things.
It’s not always about amending wills and trusts because some heir or beneficiary is no longer part of your life. What would happen if you were to marry again, and if the union was blessed with a second family? You would want to make sure the newer spouse and children were provided for properly. A wills and trusts lawyer in Davenport, IA can help formulate a plan to ensure that happens.
If there’s anything in your current estate planning that needs to be altered or updated, see a lawyer as soon as possible. You never know when the day will come when no further changes are possible.
For more information, please contact David J. Franks Law at davidjfrankslaw.com today.