Just because you’ve created an estate plan doesn’t mean you’re confident in everything it stands for. Maybe you took a DIY approach the first time around. Or perhaps your personal circumstances have changed.
If you’ve lost confidence in your estate plan, you must take steps to get it back. The last thing you want to do is live your life in fear that your estate plan won’t do what you intended upon your passing.
Here’s what you should do:
1. Pinpoint the problem(s)
Before you can do anything, you must know why you’re not confident in your estate plan. Pinpoint the problem(s) by reviewing your estate plan, asking yourself questions, and seeking outside guidance — such as from an estate planning attorney — if necessary.
2. Compare solutions
It’s one thing to pinpoint the problem. It’s another thing entirely to find a solution. Keep in mind that there may be more than one potential solution to your problem.
For example, if you’re unsure of what will happen to your assets upon your death, you could create a will or trust. Compare the pros and cons of both so that you can choose the right approach.
3. Make changes
Once you compare solutions, you’re on to the final phase. This is when you alter your estate plan based on the information you’ve gathered. It’s likely that you’ll need professional assistance when doing so. Making changes on your own can cause more harm than good.
If you’re unsure of your estate plan for any reason, contact our law firm online or via phone at (817) 899-3286. We can schedule a consultation during which you can discuss your concerns with an experienced estate planning attorney. This one conversation will go a long way in putting your mind at ease.
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