Estate planning is not a one-size-fits-all concept and most estate plans require monitoring and periodic revisions. It is ordinarily suggested that a client modify his or her estate planning documents in the event of any significant life events including, but not limited to, relocation to another state or country; changes in financial circumstances; changes in tax laws; changes in relationships; the death, disability, or incapacity of any designated beneficiary or fiduciary; and marriage or divorce. It is also essential that a client understands the difference between probate and non-probate assets and what specific assets will pass through the Will, as opposed to by law or by contract.
Because estate and trust planning, administration, and litigation requires specialized knowledge, you may wish to consult with an experienced attorney if you are planning your estate or are a fiduciary or beneficiary of an estate or trust. Specifically, you may wish to contact an attorney if you have questions regarding estate planning, the probate process, administration of an estate or trust, fiduciary obligations, preparation of a formal or informal accounting, refunding bonds and releases, and the procedures for filing a formal accounting or exceptions thereto.
If you have any questions or concerns regarding wills or trusts, please contact the attorneys at Timothy J. Little, P.C. at 732-634-5512 or use our contact form.