Orange County California

Trust Attorneys


As the New Year begins, now is the perfect time to begin thinking about updating your Orange County estate plan. Unfortunately, far too many people tend to put their plans aside once they have been created, forgetting to keep them updated. This can result in undesirable consequences should you pass away without having the opportunity to bring your plan in line with your new goals and wishes. Now is a great time for reassessing your estate plan.

We strongly recommend that you consider the following with regard to reassessing your estate plan:

  1. How do the major changes to the estate tax laws in 2013 affect your overall plan? Is your estate taxable? Do you have a tax savings plan that was prepared under an earlier regime that would have imposed a tax on your estate, which you no longer need?
  2. Are you part of a same-sex couple, or is one of your beneficiaries part of a same-sex couple? Do the historic Supreme Court decisions relating to same-sex marriage influence your estate?
  3. Did your assets significantly grow, shrink, or change in type over the past 12 months? For example, did you at one time have a large amount of cash that was recently used to purchase real estate? Different estate planning techniques may be employed depending on the type, amount, and nature of your assets.
  4. Is your existing insurance coverage sufficient for the current state of your family, goals, and the overall size of your estate? Have you looked into long-term care insurance?
  5. Are all of your fiduciaries still willing and able to serve in these rolls?
  6. Has your family grown in size?
  7. Have you taken on any new business partners or entered into new business ventures in the past year?

Each of these considerations is crucial to ensuring that your Orange County estate plan is up to date. For more helpful tips about estate planning in California, follow us on Facebook!

Pin It on Pinterest