Having a legacy plan is more a need than a choice, and most people already have that. But what if we say that’s not enough?
Does that leave you in shock? If yes, this blog is for you. This blog covers everything that starts after you’re done with your estate plan.
Estate planning is a time-consuming process that requires an attorney’s assistance to develop a legacy plan aligned with your personal and business visions. You want to ensure that everything goes as planned and may feel like having reached there with your estate plan, but today’s “all set” may turn out to be “irrelevant” tomorrow. That’s why you should stay in touch with professional legacy planning lawyers in Hawaii.
Here’s how an attorney can help you after you have a plan in place:
Careful plan reviews every few years
Change is the only constant, they say. And estate law is no exception! So, you should keep your plan in sync with the current law. Understandably, you may not be able to do it yourself, and that’s where a legacy planning attorney steps in.
Reviewing the plan after a change in your financial status
Your company may be doing great today, but that may not be the case tomorrow. It may witness exponential growth or face bad times. In both cases, it is wise to get your plan adjusted with the help of an experienced attorney.
Reviewing the plan after significant life events
Deaths, births, marriages, and divorces are a few life events that significantly impact estate planning. You should ask your legacy planning lawyer to review the plan after every such event.
Reviewing titles on the estate
It is not rare to find an incorrectly titled parcel of land in someone’s plan while processing an estate. Such mistakes may raise the need for probate for the estate, which drains time, energy, and money. The best way to avoid these hassles is to reach out to a legacy planning lawyer to review titles on the entire estate.
Reviewing business procedures
If your legacy plan has a limited partnership or corporation as a part of it, you are supposed to carry out an in-depth review of your corporate procedures to ensure that everything is done in compliance with the probate court. An attorney’s interference helps ensure that your team maintains books and records following the rules.
TAKEAWAY
Estate planning is essential to ensure that your legacy goes into the right hands without creating disputes. It is even more crucial to review it from time to time to be sure that the plan is relevant to today’s world. The key to success is to reach out to a law firm well-versed in everything related to legacy planning and make sure that nothing goes wrong.
At CASHMAN LAW, we help people seeking an attorney’s assistance in estate planning or advice on the probate or trust administration process. Thank you for taking the time to read my blog. If you would like to receive notice as each new blog article is posted, fill out the “Contact Us” form and indicate in the comments section that you would like to receive an email. Your information will not be shared, and you will not be contacted for any other purpose, unless you specifically request it. If you’re looking for experienced estate planning counsel in San Mateo, California or Hawaii, connect with us at 650-319-6801 or 808-460-0436 today. Also feel free to visit my website for dozens of free blog articles and answers to frequently asked questions. Whether Legacy or Business Planning, Contact CASHMAN LAW today to get the Plan You Deserve.™
The contents of this blog are intended to convey general information only and not to provide legal advice or opinions. The posting and viewing of the information on this blog should not be construed as, and should not be relied upon for, legal or tax advice in any particular circumstance or fact situation. While effort is taken to update the information presented, it may not reflect the most current legal developments. Please contact CASHMAN LAW LLLC (Hawai’i)/ CASHMAN LAW LC (California) to consult with an attorney for advice on specific legal issues.