The Elder and Disability Law Firm, APC
Late Singer Amy Winehouse Planned Well
Attorneys will tell you that you should not consider the matter of estate planning closed when you walk out of the office with your initial estate plan in hand. Things take place in your life over the years that can make revisions to your estate plan necessary and this is something to be aware of as you go forward.
One of the most common life changes that can make an estate plan adjustment necessary is that of divorce. Nobody thinks that they're going to get divorced on the day that they initially say "I do," but it does happen with a significant rate of frequency. Statistics vary depending on the source, but it is probably safe to say that at least 40% of marriages end in divorce these days.
The successes and failures of celebrities sometimes provide us with examples of what to do and what not to do in an estate planning context. The multiple Grammy award-winning singer Amy Winehouse left us in 2011, and she was just 27 years old and known for a rather freewheeling lifestyle.
Some would assume that she would not have had an estate plan in place, but in fact she reportedly did indeed have an estate plan that was up-to-date.
After her divorce from her former husband Blake Fielder-Civil she recognized the need to update her financial plan and she did just that. She made her parents and her brother the heirs to her considerable fortune and her ex-husband was excluded.
It is important to be proactive about updating your estate plan when it becomes necessary. If your current estate plan is out of date, take action right now to make an appointment to speak with a licensed and experienced Inland Empire estate planning lawyer.