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When Should You Consider Changes To Your Estate Plan?

Estate planning is an investment of time and money. Estate planning is also an investment that will provide financial benefits and give you and your beneficiaries peace of mind. Creating an estate plan is the first step, followed by re-titling your assets if your estate plan involves a trust. The estate planning process is an evolving process and does not stop once you have signed all of your documents or once your assets are re-titled.

Changes in your life constantly evolve.  Some of these changes may include the growth of your family,  the loss of a loved one, or even changes in laws affecting the estate tax threshold. Reviewing your estate plan annually will make sure that your documents continue to benefit you and your beneficiaries. It’s advantageous to review your documents with an attorney if the following events occur:

  • Birth or adoption of a child
  • Marriage or divorce
  • Transition to adulthood of a child or grandchild
  • Purchase of a new home or other large asset
  • Disability or disease
  • Receiving  an inheritance from another estate
  • New business venture

If you are thinking of reviewing and making changes to your estate plan,  contact The Law Offices of Edward P. Graham for a high-quality estate planning experience. You can contact us in Illinois at (630) 357-2333 or in Indiana at (219) 797-7820.


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