Please allow me to be frank. It’s unrealistic to think that a piece of paper you draft, reflecting your life at a certain time, will work when your life has completely changed some years later. I'll use the Johnson family as an example.
Meet the Johnsons
Meet Bob and Lynn Johnson. They got their first estate plan in place when their daughter, Julia, was born 30 years ago. They updated it when their son Ron came along 4 years later. After attending one of Josh Bryant's living trust seminars 7 years ago, they got a fantastic trust-based plan in place, protecting themselves, their children, their grandchildren, and their dog, Billie.
Unfortunately, the Johnsons didn’t join Josh Bryant's client maintenance program; instead, they elected to take responsibility for calling him for updates themselves. Life got busy and, as you might guess, they never called to update their documents.
Here’s what’s changed in their lives in the last 10 years.
Do you think their estate plan will still work the way they want it to?
Changes in Your Own Life
The Johnsons have experienced a lot of changes, but those changes are typical of what 10 years brings. Think about the changes in your life over the past 10 years — or since you last updated your estate plan.
Have you moved? Do you have more children or grandchildren? Have you started a business, suffered health problems, or purchased a new home? Do you have new accounts and investments? Do you now care for a parent, pets, or dependent children? Have you remarried, gotten divorced, or retired? Has someone you loved died? Have friends or family named in your plan as trusted helpers moved away, or has your relationship changed? Are your children now adults and able to help you? Do you want to help with grandchildren’s college or dance lessons? Do you see the world in a different way?
Many things have happened in the past 10 years. Your estate plan needs to reflect the changes in your personal life, financial situation, and goals. There have also been changes in the law. Josh Bryant stays abreast of these changes to protect his clients in better and better ways, so the way he does things has changed.
Is Your Estate Plan Out of Date?
If you’ve experienced changes like the Johnsons, or it’s been more than 3 to 5 years since you updated your estate plan, it’s time to call Josh Bryant. He’ll review your plan and talk about what’s been happening in your life. He can get you and your estate plan up to date, reflecting where your life is now.
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I follow Christ. I have a beautiful wife Megan and three wonderful children, Harrisen, Rebekah, and Carter. I have an M.Div. from Liberty Baptist Theological Seminary, am licensed to practice law in several state and federal courts, and live in Rogers, Arkansas. I write a blog and produce a podcast. And I do it all that others may know Christ.