Many people have a will and believe that their estate plans are complete, however, there are certain common issues that may occur throughout your life that challenge you to update your estate plan. These issues are discussed below.
If you have a child you require to update your estate plan to provide a guardian for the child. If you do not take the guardian for your child the court will do it for you without your input! This can result in turmoil for the child and everyone involved. You are the person who understands who is the best person to be the guardian for your children. You need to make the choice! You can also visit http://www.amity-law.com/estate-planning-probate-lawyer-los-angeles/ to know more about the estate planning laws.
When you get married your estate plan will change. Prior to marriage your will probably provide for your assets to go to your parents or friends. Typically, after marriage people require their assets to go to their spouse. After you are married you need to update your estate plan to reflect this change. If you get remarried you should modernise your estate plan as well.
Many times there are children from earlier marriages and you need to choose how the assets will be distributed. By planning your estate it will be executed evenly.