Maintenance: Keeping your plan up to date
At our law firm, Job #1 is to take care of families when it really matters. This is much easier said than done. Look, I have the credentials, more than 25 years’ experience, and access to some of the brightest minds in elder law and estate planning. If you have an elder law or estate planning question … I can get the answer. But there are somethings I simply cannot know.
I don’t know when you are going to die, become incapacitated or need nursing home care. Because I don’t know when that date will come I don’t know:
- What the laws will be on that date
- What your finances will be on that date
- What your family situation will be on that date or
- What will be important to you on that date.
So what you are essentially asking me to do is to take care of your family at an unknown time, for unknown laws, for unknown assets, for unknown family circumstances and for things that we don’t even know are going to be important to you.
Elder Law and Estate Plans Require Maintenance
I’ll tell you that it is nearly impossible with a one and done elder or estate plan. Especially if you plan on living for a while after your plan is created. Elder law plans are a lot like cars. When you buy a new car, it purrs like a kitten when you drive it off the lot. But, if you don’t maintain it, the car will start to sputter and breakdown completely if neglected too long.
So clearly, things are going to change and your plan needs to change as well. My experience and that of my colleagues is that clients simply don’t come back to update their plans.
Our clients hire us to not only create their plan but to keep their plans up to date throughout their lives so that their family is taken care of when it matters because change is the only constant.
Our clients know that we have their backs. They have access to us and are not afraid to call us or come by our office for fear of being billed by the hour. If they need help, we help. If their plan or documents need updating, we update them.
There is an epidemic of estate plans that are woefully out of date. That do nothing more than provide people with a false sense of peace of mind. That is not enough for us. Our clients hire us because we create and maintain plans so that their families are taken care of when it really matters.