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Your Parent’s Estate Plan: Made in the 80’s… Out of Date Today!
by Darlynn Morgan,
Orange County Estate Planning Lawyer
As with anything from the 80’s… hairstyles, clothes, VHS, cassette tapes, fads and trends, rest assured that mom and dad’s estate plan is probably right up there with shoulder pads: painfully out of date!
If you take the time to ask your parents if they have an estate plan, you may find them proud to say that they have a will or trust. They probably feel confident knowing that at some point in their lives, they created legal plans to do the right thing by their family…
…or did they?
When to Update an Estate Plan
Even if mom or dad HAS a will or trust, your next question to them should always be, “when is the last time you UPDATED your plan?”
