Share

Colorado Estate Planning Blog

Wednesday, July 20, 2016

Common Estate Planning Mistake #3 – An Outdated Estate Plan

An outdated will can be as problematic as the lack of a will for an estate. That’s because outdated wills can identify personal representatives or beneficiaries who have passed away (or who are estranged); they can name assets no longer owned by the decedent; etc.

These documents, along with the rest of your estate plan, should be reviewed at least every three to five years–more often if there is a change in the law, your finances or personal circumstances. The following important developments may require action on your part:

  • The individuals you have named are deceased
  • New people should be named (i.e. birth, adoption)
  • Divorce or marriage of you or a beneficiary
  • New state, federal or tax laws
  • Changes in guardians, personal representatives, trustees
  • Children reach the age of 18
  • Substantial increase or decrease in the value of your estate
  • The acquisition or disposition of a significant asset

Come to our FREE Estate Planning 101 class to learn more!

Class Schedule




Sommers Law Group, LLC assists clients with Estate Planning, Estate Administration, Asset Protection, Advanced Estate Planning, Planning for Children, Special Needs Planning and Pet Trusts in Lakewood, Colorado and throughout Denver, Jefferson County, and Arapahoe County, Colorado.



© 2017 Sommers Law Group, LLC | Disclaimer
390 Union Boulevard, Suite 280, Lakewood, CO 80228
| Phone: 303-984-9900

Estate Planning | Advanced Estate Planning | Planning for Children | Asset Protection | Special Needs Planning | Pet Trusts | Probate / Estate Administration | | About Us | Resources | CCMP Members

Facebook

Attorney Website Design by
Amicus Creative