• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
< class="site-title" itemprop="headline">Flood & Masiuk LLC | Southampton Estate Planning Attorneys

Attorneys At Law

  • Home
  • Our Firm
    • About Our Firm
    • About The American Academy
    • Advantages of Working With Our Firm
    • Attorney and Staff Profiles
    • Speaker Connection
  • Estate Planning
    • Asset Protection and Business Planning
    • Estate and Gift Tax Figures
    • Estate Planning
    • Family-Owned Businesses & Farms
    • Incapacity Planning
    • IRA & Retirement Planning
    • Legacy Planning
    • LGBTQ Estate Planning
    • Pet Planning
    • SECURE Act
    • Special Needs Planning Services
    • Trust Administration and Probate
  • Elder Law
    • Are You A Caregiver?
    • Coping With Alzheimer’s
    • Emergency Medicaid & Nursing Home Planning
    • Guardianship & Conservatorship
    • Hospice Care
    • Medicaid Planning
    • Veteran’s Benefits
  • Resources
    • DocuBank
    • Elder Law Resources
      • Elder Law & Medicaid Definitions
      • Elder Law Reports
    • Estate Planning Resources
      • Estate Planning Checkup
      • Estate Planning Definitions
      • Estate Planning Needs Checklist
      • Estate Planning Reports
      • Incapacity Planning Definitions
      • Is Your Estate Plan Outdated?
      • Top 10 Estate and Legacy Planning Techniques
    • Frequently Asked Questions
      • Frequently Asked Questions for Families Without an Estate Plan
      • Legacy Wealth Planning FAQ’s
      • LGBTQ Estate Planning FAQs
      • Trust Administration & Probate FAQs
    • LGBTQ Resources
    • Newsletters
    • Special Needs Resources
    • Trust Administration & Probate Resources
      • Bereavement Resources
      • How to Know if You Need Extra Help With Your Grieving
      • Loss of a Loved One
      • The Mourner’s Bill of Rights
      • Things You Need To Do When a Loved One Passes Away With a Trust
      • Things You Need To Do When a Loved One Passes Away With a Will
      • Trust Administration & Probate Definitions
  • Reviews
    • Our Reviews
    • Review Us
  • Blog
  • Contact Us
Home / Estate Planning Articles / I Have an Estate Plan: Do I Still Need My Attorney?

I Have an Estate Plan: Do I Still Need My Attorney?

January 31, 2012 by Marianne Flood, Estate Planning Attorney

Compliments of Our Law Firm,
By: The American Academy of Estate Planning Attorneys

Your estate plan is prepared. Your Living Trust is in place and properly funded, you have a Pour-Over Will just in case, and your incapacity plan is ready and waiting in the event you need it. Is it time to part ways with your attorney?

Not at all! In fact, your relationship with your estate planning attorney has just started, and here’s why:

Your Estate Plan Should Be Reviewed and Updated Regularly

Peoples’ lives change, and their estate plans should be adjusted accordingly. Every two to four years, you should sit down with your attorney and look over your existing plan in light of your family’s current circumstances.

  • Has anyone been born, gotten married or divorced, or died?
  • Has your family’s financial status undergone a significant change?
  • Have any of your fiduciaries your Executor, Trustee, guardian moved away, passed away, become disabled, or otherwise undergone a status change that necessitates the appointment of a replacement?
  • Do you want to change any bequests or add or remove any Beneficiaries?
  • Do you need to change the Beneficiary designations of any insurance policies or financial accounts?

Your attorney can help you address these and other important considerations, in addition to advising you on how changes in the law may affect your estate plan. Your attorney may recommend changes in your estate plan that address these law changes or take advantage of new legal strategies.

You Might Not Be Your Own Trustee For Life

You might serve as Trustee of your Living Trust until your death, but that is not guaranteed. What will happen if you become physically or mentally incapacitated or if you simply reach a point where you’re ready to hand over the reins to your Successor Trustee?

In either of these situations, your estate planning attorney can prepare the appropriate documents, guide your Successor Trustee, and assist with the transition so that the management of your Trust remains uninterrupted.

Your Successor Trustee Will Need Help

One of the reasons for creating a Living Trust is to make the administration of your estate after you pass away easier, less expensive, and faster with a Trust than it would have been without one. However, this does not mean that your Successor Trustee’s job will be easy and hassle-free. There will be assets to inventory, Beneficiaries to deal with, and financial issues to worry about. Your estate planning attorney is already familiar with the requirements imposed by state law. He or she can guide your Successor Trustee in administering your Trust and ensuring that your estate is settled as quickly and efficiently as possible.

Your estate planning attorney can help ensure your plan keeps pace with your evolving needs and can serve as a trusted guide as you and your loved ones face new challenges.

About Marianne Flood, Estate Planning Attorney

As the founder and managing partner of the Southampton, Pennsylvania law firm of Flood & Masiuk, LLC, Marianne Flood oversees a practice devoted to providing clients with personalized service and counsel in all aspects of estate planning.

Primary Sidebar

Is Your Plan Outdated?

Change is inevitable! See if your plan is outdated and if you need to take action to protect your loved ones.
  • This field is for validation purposes and should be left unchanged.

Flood & Masiuk LLC | Southampton Estate Planning Attorneys

112 Lakeside Park
Southampton, PA 18966
Phone: (215) 322-6330
Fax: (215) 322-9199

MAP

map for Flood & Masiuk LLC office

Opening Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 5:00 PM

Footer

  • Disclaimer
  • Sitemap
  • Contact Us

© 2023 American Academy of Estate Planning Attorneys, Inc.

All Rights Reserved.
Attorney Advertisement

footer-logo
  • fb
  • twitter
  • linked-In