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As we enter the New Year, it’s a good time to revisit your estate plan. The big question is whether your will, trust, power of attorney, and advance health care directive accomplish your personal objectives. Guidance from an estate planner will help you review your plan in light of tax and other changes in the legal landscape, as well your evolving personal circumstances.
Consider also the possibility of family conflict, upon your incapacity or death, over the administration of your trust and estate. A “fire danger” sign provides the perfect illustration. What’s the risk of fire, i.e., litigation in a California probate court, involving your estate plan? To further embrace the metaphor, what might you do, as a “fire prevention approach,” to reduce the possibility of divisive and expensive conflict?