Free No-Obligation Consultation
510-527-6774
Free No-Obligation Consultation
510-527-6774

Now Is a Good Time to Review Your Estate Plan

Posted by Eric E. Davidson | May 01, 2020 | 0Comments

The novel coronavirus is raging across the world. As people shelter in place and isolate, many are wondering, “Do I need to review my estate plan?” Yes, now is the perfect time to review your estate plan and make any necessary changes.

An experienced estate attorney in Oakland, CA can help you review your estate plan during this difficult time. Our firm can help you develop an effective estate plan over the phone without an in-person meeting.

Reviewing Your Estate Plan During the Pandemic

Estate plans can have several aspects that should be updated on a regular basis or if certain life events occur. For instance, now is a great time to update an existing, or set up a new, advanced health care directive (AHCD). Advanced health care directives stipulate who can make medical decisions on your behalf should you become incapacitated and unable to speak for yourself, and what types of decisions they can make. Given the current situation with the novel coronavirus, you should strongly consider setting up an AHCD during the call with your attorney – even if you are young.

There are many other reasons to consider updating an estate plan, such as changing economic conditions. Economic disruptions may lead to a reduction in your income or the value of your estate. Your attorney can help you evaluate the changing economy and how it could affect your estate plan.

Even if you are not sick or suffering from COVID-19, you may find yourself unemployed or concerned about your loved ones. Reevaluating your estate plan can help give you peace of mind.

Additional Reasons for Updating an Estate Plan

If you currently have an estate plan, then you should review it annually. Common reasons why you may want to review your estate plan include:

  • Naming a new guardian or trustee
  • Changes in marital status
  • Birth of a child
  • The death of a spouse or other family member
  • A substantial change in the value of your assets
  • Obtaining an inheritance
  • Income level changes
  • Entering retirement

Contact an Estate Attorney in Oakland, CA

Now is the perfect time to review your estate plan. It helps to have an experienced estate attorney review your current plans. Without an attorney on your side, you may not have the protection you need for your estate and your loved ones.

To learn more about estate planning in California, give us a call. Contact an estate attorney at Davidson Estate Law at (510) 527-6774 or fill out our confidential contact form. Our main office is located in Oakland, but we also have offices in Berkeley, San Francisco, Walnut Creek, San Jose and San Mateo to better serve you.

Comments

There are no comments for this post. Be the first and Add your Comment below.

Leave a Comment

Comments have been disabled.

Davidson Estate Law Is Here for You

At Davidson Estate Law, we focus on estate planning and we are here to listen to you and help you navigate the legal system.

Contact Us Today

Davidson Estate Law is committed to answering your questions about estate planning, trust administration, and probate issues in California.

We offer a free consultation and we’ll gladly discuss your needs and planning objectives with you at your convenience. Contact us today to schedule an appointment.