An estate plan provides specific documents that lay out your wishes, from setting up a trust to distributing your assets after your death. Regularly reviewing your estate plan and making any necessary changes ensures that your current documents still reflect your wishes, increasing the odds that everything will go according to plan and your estate will progress smoothly through probate when the time comes.
Updating an estate plan in Orange County allows you to better protect your assets and provide for your heirs based on your current life situation and plans. Reach out to an experienced estate planning attorney at Amity Law Group for assistance.
Reviewing Current Estate Planning Documents
To update an estate plan in Orange County, begin by reviewing all existing documents, such as:
- Wills
- Trusts
- Power of attorney documents
- Healthcare directives
Most people should review these documents every few years or after any major life changes in the family, including births, deaths, marriages, and divorces. Some individuals may also want to review their estate planning documents if they have gone through significant financial changes.
Laying Out Changes
Before making alterations to an estate plan in Orange County, individuals should carefully lay out what changes they need to enact as part of the estate plan. Common updates include:
- Changing beneficiaries
- Shifting asset distribution
- Naming a different guardian for minor children
- Appointing a different power of attorney or healthcare proxy
Determining what changes need to be made allows the individual to make sure they have selected the right approach for their specific needs.
Choosing the Right Document
There are several types of documents that can be filed to amend an Orange County estate plan. For minor changes to a will, a codicil allows for specific amendments to existing documents. Amendments serve a similar purpose for trusts. However, if a person needs to make significant changes to their will or trust, they may need to file a new document.
Drafting Changes
Working with an attorney can prove essential when drafting changes to an estate plan in Orange County. An attorney can ensure that the new documents accurately reflect the person’s wishes and plans, while also verifying that these changes are legally compliant and align with the person’s current objectives.
Individuals planning to make changes to their estate plans should carefully review the drafts of those changes to ensure that they meet their needs.
Finalizing Updates
All documents, including codicils, amendments, and new wills or trusts, should be signed according to California law. While California law does not require wills to be notarized, they must be signed by at least two witnesses.
In California, most estate planning documents are not filed with the court until the time comes to put them into action; however, a lawyer may keep those documents on hand and file them on behalf of their client when necessary.
Discuss Updating Your Estate Plan With an Orange County Lawyer
If you are planning to make changes to your estate plan, working with a lawyer can be crucial. Not only can an attorney walk you through your options for updating your plans, but they can also ensure that the current documentation meets all legal requirements and will ensure that your wishes are carried out.
If you are updating an estate plan in Orange County or need assistance with any other estate planning needs, Amity Law Group can help. Contact us today to get started.
