BLACK FAMILY WEALTH MATTERS: Click here to learn how we are working to support you.
PROTEJA SU HOGAR Y SU FAMILIA - Se Habla Espanol. Haga clic aquí!
  • Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • Our Firm
    • About Our Firm
    • Areas We Serve
      • Los Angeles County
        • Inglewood
        • Malibu
        • Santa Monica
        • Torrance
        • Venice
    • Pre Consultation Form
    • Attorney and Staff Profiles
      • Attorney Caprice Collins
      • Attorney Lioness Ebbay
    • Awards & Recognition
    • Giving Back
    • Our Reviews
    • Speaker Connection
    • Staff Events
  • Services
    • Asset & Business Planning
    • Estate And Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses
    • Financial Planning Assistance
    • Incapacity Planning
    • IRA & Retirement Planning
    • Legacy Planning Services
    • LGBTQ Estate Planning
    • Medi-Cal and Elder Law
    • Pet Planning
    • SECURE Act
    • Special Needs Planning
    • Trust Administration & Probate
      • Trust Administration & Probate Definitions
  • EVENTS
  • Resources
    • Elder Law
      • Ladera Heights Elder Law
      • Los Angeles County Elder Law
      • Elder Law & Medicaid Definitions
      • Elder Law Reports
      • Medi-Cal Planning Checklist
    • Estate Planning
      • Estate Planning Checkup
      • Estate Planning Reports
        • Advanced Estate Planning
        • Basic Estate Planning
        • Estate Planning For Niches
        • Trust Administration
      • Estate Planning Definitions
      • Estate and Gift Tax Figures
      • Incapacity Planning Definitions
      • Is Your Estate Plan Outdated?
      • Top 10 Estate and Legacy Planning Techniques
    • Free Estate Planning Worksheet
    • Free Seminars
    • Frequently Asked Questions
      • Business Succession Planning
      • Elder Law
        • Medi-Cal
        • Nursing Home Planning
        • Understanding Dementia
      • Estate Planning
        • Charitable Gifting
        • Estate Planning for Women
        • Frequently Asked Questions for Families Without an Estate Plan
        • LGBTQ Estate Planning
      • Financial Planning
        • Tax Planning in Your Estate Plan
      • Incapacity Planning
        • Veteran’s Benefits
      • Legacy Wealth Planning
      • Pet Planning
      • Power of Attorney
      • Probate
        • Serving as Executor
        • Small Estate Administration
      • Trust Administration & Probate
      • Trusts
        • Living Trusts
      • Understanding Estate Taxes and How They Impact Your Estate Plan
    • Legacy Wealth Planning Pre-Consultation Form
    • Newsletters
    • Probate and Trust Administration
      • Bereavement Resources
      • How to Know if You Need Extra Help With Your Grieving
      • Loss of a Loved One
      • The Mourner’s Bill of Rights
      • Things You Need To Do When a Loved One Passes Away With a Trust
      • Things You Need To Do When a Loved One Passes Away With a Will
      • Trust Administration & Probate Definitions
    • Published Books
    • The Ultimate Caregiver Guide
    • Caregiver’s Worksheets and Checklists
  • Videos
  • Reviews
    • Our Reviews
    • Review Us
  • Women’s Planning
    • A Guide to Estate Planning for Women
    • Frequently Asked Questions
  • Trust Administration
  • Blog
  • Contact Us

Collins Law Group

Los Angeles Estate Planning Attorney

powered by BirdEye

Connect with us today(310) 677-9787

Attend a FREE Event
  • Facebook
  • Twitter
  • Linkdin
  • Youtube
  • Instagram
  • Pinterest
Home » Estate Planning Articles » There’s No Time Like the Present to Review your Plans

There’s No Time Like the Present to Review your Plans

August 31, 2011

Compliments of Our Law Firm,
By: The American Academy of Estate Planning Attorneys

As we retire and get ready for the next stage of our lives, many of us have a plan in place outlining what we wish to leave to our sons, daughters, grandchilden, or other loved ones, or perhaps to charity. It’s imperative to review your estate plan periodically, especially if you or your spouse are getting on in years, or if your health is failing, to ensure that it continues to meet your goals.

Time usually passes more quickly than we expect. Make it a priority to re-evaluate your goals and your Will or Living Trust, especially when there has been a change in circumstances, such as:

  • Your spouse passes away, and you find that you have additional assets to leave to your heirs, loved ones, alma mater, or favorite charity.
  • There are changes in your children’s lives such as a birth, divorce, new stepchildren, or a child who has special needs.
  • You wish to create a gifting program so that you can see the fruits of your generosity while you are still alive.
  • You want to reduce your income taxes and estate taxes so as to pass on more to your heirs.

What many people don’t realize is that there can be significant financial benefits to keeping their estate plan current. Estate taxes and income taxes can be minimized, assets can be sheltered from creditors, and heirs can receive greater benefit from a properly-created estate plan.

As you consider your plans, talk informally to your heirs and loved ones to see if there are any special wishes they have and to ascertain what their mid-term and long-term plans are for themselves and their families. Review all of your assets, titles and deeds, banking and other financial documents, retirement accounts, insurance papers, etc., to make sure that you have all of your documents in a safe, accessible place, and that the appropriate assets are funded into your Trust. Ensure that beneficiary designations are up-to-date and correct in all pertinent documents.

Meet with a loved one or someone you trust to discuss your estate plan. Make sure they know what documents you have, where they are kept, and how to gain access to them should you pass away.

Imagine the peace of mind you’ll have, knowing that you’ve updated your legal documents, looked over your other affairs, and taken the time to think about the future of your loved ones.

Remember too that you’ll need the counsel of an attorney who focuses his or her practice on estate planning, to make sure that all of your documents are legally binding and that you take advantage of the laws and procedures for your state. This way you’ll avoid pitfalls, protect your assets, and provide as you wish for your heirs.

Primary Sidebar

Collins Law Group

Download our Free Report

Learn the common reasons you need to not only build and protect your hard-earned money, but transfer it with as little depletion and expense as possible.

Our Attorneys

Attorney Caprice Collins

Get to Know Attorney Caprice Collins


Attorney Lioness Ebbay

Get to Know Attorney Lioness Ebbay

Follow Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube
  • Instagram
  • Pinterest

Testimonials

Client Review
August 19, 2020
    

“My mother told me about the Collins Law Group and I must say, the entire experience has been a real pleasure. Although I was nervous at first, the Collins Law Group staff put me at ease with their friendliness and knowledge. I didn’t realize how hard it could be on your family and loved ones left behind if you die without any planning or directions in place for them. My biggest concern was making sure my elderly mother would be provided for and taken care of if something happened to me. I have been a caregiver for her for 12 years, so this planning was crucially important. I had previously made a living trust for myself on Legal Zoom but there is no comparison to the level of service and professionalism that Collins Law Group embodies. Attorney Collins and her staff provides excellent service and it will take a large burden off of my family when they need guidance at the time of my passing.”

default image
-Ms. Jones

Where We Are

Collins Law Group
3330 West Manchester Boulevard
Inglewood, CA 90305
Phone: (310) 677-9787
Fax: (310) 677-6742
Email: clcfirm@aol.com

See Larger Map Get Directions

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 5:00 PM

Map

Collins Law Group Google Map

Footer

  • About Our Firm
  • Advantages of Working With Our Firm
  • Services
  • Sitemap
  • Resources
  • Blog
  • Contact Us

Connect with Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube
  • Instagram
  • Pinterest
Collins Law Group footer logo

Attorney Advertisement

© 2023 American Academy of Estate Planning Attorneys, Inc.