Why updates to estate plans are critical for everyone

Life is unpredictable, and while there is no way to control what will happen in the future, there are steps one can take that will allow him or her to have more control over certain things. Estate planning is a way to put protections in place that will allow a Louisiana adult to decide what will happen with health care, personal assets and more after death. Updates to estate plans over time are important, yet many overlook this important step.

Estate planning is much more than just deciding what happens to property and which relatives will get assets. These plans do pertain to specific issues after death, but they can also be helpful during a person’s lifetime as well. Certain documents can outline the type of health care someone may want in case he or she is unable to speak because of an illness or injury.

These documents are not one-size-fits-all, and there is often a need to change and update these plans over time. When significant life events happen, it is worthwhile to look at documents and determine what updates may be necessary. A divorce, death in the family, remarriage, the birth of additional children and other life changes may merit changes in an estate plan.

Every few years, Louisiana adults would be wise to look at their existing documents and determine if updates to estate plans are necessary. It may also be helpful to work with an experienced attorney when reviewing, drafting and changing important documents. Regardless of age, health status or wealth, planning for the future is prudent for every adult.