Wiener and Wiener LLP
With Offices In Allentown And West Palm Beach, We Serve Throughout Eastern Pennsylvania And Florida

Review your estate plan when these changes happen

On Behalf of | Dec 3, 2021 | Estate Planning |

Estate planning in Pennsylvania is most effective when done on a periodic basis. No one can foresee all of the needs of their estates the very first time they start planning, so consider reviewing your estate every few years or when you encounter the following life events.

A change of beneficiaries

Estate planning is about deciding who or what the beneficiaries of an estate are. Consider revising your estate plan if and when your beneficiaries change. Keep in mind that beneficiaries can be more than family members. Charities, universities, and close friends are also legal beneficiaries. You have the right to add or remove them at will.

You received an inheritance

The more money you receive in life, the larger your estate becomes. Successful estates need to be organized to account for taxes and account fees. If your plan already thrives with its current capital, then inheritance would boost the options your estate has. New income is a reason to review your estate and to adjust for larger goals and milestones to reach.

Your perspective has changed

You might meet someone who changes your life. People have the power to inspire, and how you see life today might change 15 years from now. The natural changes that humans experience in life are accounted for during estate planning. It’s perfectly fine if your mind changes.

After a marriage or divorce

Estate planning is helpful in outlining the way you’ll handle marriage or divorce. The assets before your marriage should be accounted for as separate property. This remains apart from community property, which are the things you got during a marriage.

Estate planning in Pennsylvania

Estate planning in Pennsylvania gives you a chance to account for new jobs and even childbirth. Each major event in life has within it the potential to build your estate. Planning a proper estate not only ensures that you protect an inheritance but even builds wealth to use today.