As an estate planning attorney with more than 30 years of experience and an owner of a successful law firm, it is fair to say I have worked on my fair share of estate plans. It is also not a stretch of the imagination to assume that because I am in the business of helping families when a loved one passes away or is incapacitated, I take great pride in being extremely thorough and accurate so that the documents we create work precisely as they are intended when they are needed most. 

All of this is true—which is why my answer to the question in this article’s title may shock you: Yes, your estate plan can fail.

That said, it will not fail for the reasons you might think. 

Estate Plans Fail Because They Become Outdated

The most common reason estate plans fail is not because they were poorly written or legally flawed. It is because they become outdated. Despite what you may have been told elsewhere, your Will, Trust, or Medical Power of Attorney was not meant to be meticulously crafted—complete with all the right legal language to account for your specific needs, wishes, and goals—and then filed away in a drawer until your family needs it. Life is fluid, so what fits your circumstances today may no longer apply a few years from now.

A lot can happen between the day you sign your documents and when they need to be used. 

• You may have downsized or acquired new assets.
• A trustee or executor may not be alive or willing to serve.
• Tax laws may have changed.
• You could have gotten married or divorced.
• A spouse or beneficiary could have passed away. 
• Perhaps you started, sold, or changed ownership in a business.
• You have retired or experienced significant health challenges.

While all of these scenarios are normal and happen to all of us, they can quickly render your estate plan ineffective. Clearly, this was not how things should have turned out, so what is the solution? 

Have Your Estate Plan Reviewed Every Three Years

If you just realized that three or four years have passed since you created or last made changes to your estate plan, call our team of attorneys. When we design estate plans for our clients, we do our very best to think of everything that matters most to them and even the things they did not know were important. The result is a set of thorough legal documents designed to protect you and your loved ones and cover life’s many ill-timed curveballs. That said, conducting an estate plan review every three years is critically important.

Sometimes, it can be challenging for clients to think of everything that happened since they first signed their estate planning documents. This is normal—life moves quickly, right? That’s why your relationship with your estate planning attorney should not end when you sign your documents. It is meant to be an ongoing relationship, and there is no better peace of mind than knowing you have someone in your corner to help address everything that comes next. 

Let us help you uncover those additional details and ensure your estate plan keeps you covered.

Call Leigh Hilton PLLC Today!!

How often should my estate plan be reviewed? Again, at least every three years. Some changes are predictable, but we may not know how soon they will occur. Other changes are not so predictable. Either way, it is important to be prepared for as many situations as possible. Call Leigh Hilton, PLLC, in Denton, TX. We have ample experience and will take into consideration your particular situation. Proper planning of an estate, whether through a Will, Trust, or both, helps ensure your wishes are carried out. 

Leigh Hilton, PLLC, wants to be your first call every time for any estate planning need. We look forward to serving you.