As fall arrives, the end of the year begins to come into view. And while many families are preoccupied with back-to-school and perhaps even holiday plans, it’s important to consider possible revisions to your estate plan. Working with an experienced San Mateo estate lawyer will help you make the right decisions in your review.

That’s where Biddle Law comes in. No matter the specifics of your estate plan, we can take a look at what you need to know, help you adopt important changes, and prepare you for the end of the year and into the future.

Now is the Time to Review

Some families wait until the very end of the year to think about updates to their estate plan, if they consider making changes at all. But fall is the ideal time to revisit your plan. Here are a few reasons why:

• You could unexpectedly get sick: With COVID-19 an ongoing threat, and the general risk of illness that comes with fall and winter, there’s no need to wait. Serious illness could hospitalize or incapacitate you, leaving your plan without important changes.
• You should prepare for the travel season now: Before you book that flight or prepare to drive from San Mateo to some place else, go ahead and look at your plan. Holiday travel is inherently risky and you don’t want to have an unrevised estate plan in the event the worst-case scenario occurs.
• Take early advantage of year-end tax and financial benefits: There are potential tax and financial benefits to utilize now, including the gift tax exclusion. By evaluating those advantages early, you can put together a strategy to make the most of estate planning laws.
• Last-minute scrambling and delays can be problems: Most people will wait until the absolute last minute to change their estate plan. But waiting will risk delays in updating documents and obtaining necessary information, which could imperil your plan and rob your peace of mind.

What Should You Review?

Every estate plan is different, and must meet the specific needs of every individual and family. With the assistance of a San Mateo estate planning lawyer, however, you can rest assured that your plan meets your objectives. We can take a look at your:

• Last will and testament: During this last year did you get married or divorced, become a new parent, or decide to make changes to who inherits what from your estate? If so, it’s time to review and update your will.
• Trust: Whether you already have a trust or not, it’s time to evaluate how one of these powerful estate planning instruments can benefit your family. There are numerous types of trusts, and you can also use a pour-over will to direct residual estate assets into a trust.
• Power of attorney: You can designate someone to manage your personal and financial affairs in the event you become incapacitated. If you plan to travel or go on vacation before the end of the year, consider whether your power of attorney is adequate for your needs.
• Advance health care directive and living will: San Mateo residents can also sign an advance health care directive and living will. These documents generally concern medical care and end-of-life treatments, and you should update them as your health changes.

Our Commitment to Our Clients

Life is always changing, and you need a comprehensive estate plan that adapts to whatever comes next. When you hire Biddle Law as your estate planning law firm, you have a trusted advocate that can help you not only create but also update your unique plan. Get started today by calling us or completing our online contact form.