{"id":221,"date":"2016-07-29T19:51:55","date_gmt":"2016-07-29T19:51:55","guid":{"rendered":"http:\/\/sfsdlaw.com\/?p=221"},"modified":"2017-08-25T19:55:25","modified_gmt":"2017-08-25T19:55:25","slug":"wondering-whether-you-need-to-update-your-estate-plan","status":"publish","type":"post","link":"https:\/\/sfsdlaw.com\/2016\/07\/29\/wondering-whether-you-need-to-update-your-estate-plan\/","title":{"rendered":"Wondering Whether You Need to Update Your Estate Plan?"},"content":{"rendered":"

Yes, You Do and Here\u2019s Why<\/strong><\/p>\n

Please allow us to be frank. It\u2019s unrealistic to think that a piece of paper you draft, reflecting your life at a certain time, will work when your life has completely changed some years later. We\u2019ll use the Kendrick family as an example.
\nMeet the Kendricks<\/strong>
\nMeet Bill and Karen Kendrick. They got their first estate plan in place when their daughter, Jessica was born 30 years ago. They updated it when their son Steve came along 4 years later. They attended one of our living trust seminars 10 years ago and got a fantastic trust-based plan in place, protecting themselves, their children, grandchildren, and dog, Sadie.
\nUnfortunately, the Kendrick\u2019s didn\u2019t join our client maintenance program; instead, they elected to take on the responsibility of calling for updates themselves. Life got busy and, as you might guess, that didn\u2019t happen.
\nHere\u2019s what\u2019s changed in their lives in the last 10 years. Jessica and Steve are now adults and through college.
\n\u25cf\u00a0\u00a0\u00a0\u00a0 Jessica has married and now had two daughters. One of the girls may have autism.
\n\u25cf\u00a0\u00a0\u00a0\u00a0 Steve is also married and is expecting his first child.
\n\u25cf\u00a0\u00a0\u00a0\u00a0 Karen\u2019s mother is now living with them.
\n\u25cf\u00a0\u00a0\u00a0\u00a0 They bought a vacation home in Florida.
\nDo you think their estate plan will still work the way they want it to?
\nChanges in Your Own Life<\/strong>
\nThe Kendrick\u2019s have experienced a lot of changes, but those changes might be typical of what 10 years brings. Think about the changes in your life over the past 10 years – or – since you last updated your estate plan.
\nHave you moved? Do you have more children or grandchildren? Have you started a business, suffered health problems, or purchased a new home? Do you have new accounts and investments? Do you now care for a parent, pets, or dependent children? Have you remarried, gotten divorced, or retired? Has someone you loved died? Have friends named in your plan as trusted helpers moved away or has your relationship changed? Are your children now adults and able to help you? Do you want to help with grandchildren\u2019s college or dance lessons? Do you see the world in a different way?
\nMany things have happened in the past 10 years. Your estate plan needs to reflect the changes in your personal life, financial situation, and goals. There have also been changes in the law and we continuously learn to protect our clients in better and better ways, so the way we do things has changed.
\nIs Your Estate Plan Out-of-Date?<\/strong>
\nIf you\u2019ve experienced changes like the Kendricks or it\u2019s been more than 3 to 5 years since you updated your estate plan, it\u2019s time to come in. We\u2019ll review your plan and chat with you about what\u2019s been happening in your life, so we can get you and your estate plan up-to-date, reflecting where your life is now.<\/p>\n

Feel free to call or email with any questions about any part of your estate plan or your estate planning needs.
\nDoug Thesenvitz
\n605-334-9448
\ndoug@siouxfallsestateplanning.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Yes, You Do and Here\u2019s Why Please allow us to be frank. It\u2019s unrealistic to think that a piece of paper you draft, reflecting your life at a certain time, will work when your life has completely changed some years later. We\u2019ll use the Kendrick family as an example. Meet the Kendricks Meet Bill and […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sfsdlaw.com\/wp-json\/wp\/v2\/posts\/221"}],"collection":[{"href":"https:\/\/sfsdlaw.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sfsdlaw.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sfsdlaw.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sfsdlaw.com\/wp-json\/wp\/v2\/comments?post=221"}],"version-history":[{"count":0,"href":"https:\/\/sfsdlaw.com\/wp-json\/wp\/v2\/posts\/221\/revisions"}],"wp:attachment":[{"href":"https:\/\/sfsdlaw.com\/wp-json\/wp\/v2\/media?parent=221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sfsdlaw.com\/wp-json\/wp\/v2\/categories?post=221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sfsdlaw.com\/wp-json\/wp\/v2\/tags?post=221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}