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Figeroux & Associates | 26 Court Street, Suite 701, Brooklyn, NY 11242 | www.askthelawyer.us | 855-768-8845
Creating a will or trust is a critical step in protecting your family and your legacy — but estate planning isn’t a one-and-done task. At Figeroux & Associates, we routinely see the consequences New Yorkers face when they fail to update their estate plans after major life events. A well-drafted plan can quickly become outdated and ineffective if it doesn’t reflect your current reality.
Whether it’s a marriage, divorce, birth of a child, death of a loved one, relocation, or major financial shift, ignoring these changes can derail your intentions and lead to unintended — and often devastating — outcomes for your family.
What Can Go Wrong?
- Ex-Spouses Inheriting Assets
If your will or beneficiary designations still name an ex-spouse, they could legally receive your assets unless you’ve made clear changes. While New York law does offer some protections by revoking provisions for ex-spouses after divorce, not all assets are covered, particularly if they pass outside the will (like life insurance or retirement accounts).
- Omitted Children or Grandchildren
Failing to update your estate plan after the birth or adoption of a child or grandchild can unintentionally leave them out. New York law does provide for “after-born” children, but it’s not automatic, and it often leads to legal challenges and family disputes over intent.
- Deceased Beneficiaries Still Named
If a beneficiary or fiduciary (like an executor or trustee) passes away and no alternates are named, your estate could be left without direction. This leads to court intervention, delays, and potential loss of control over who manages your affairs.
- Changed Financial Picture
Major changes to your financial situation — like receiving an inheritance, selling property, or starting a business — should trigger a review of your estate plan. An outdated plan may not provide adequate tax protection, creditor shielding, or asset distribution strategies to reflect your current goals.
- Relocation Across State Lines
New York has specific estate laws that differ from other states. If you move into or out of New York without updating your estate plan, your will or trust may not be fully valid or may cause confusion and litigation among heirs.
The Risk of Complacency
Estate planning is not just about drafting documents — it’s about keeping them relevant. Relying on an outdated plan is just as dangerous as having no plan at all. Family dynamics, laws, and personal priorities change. If your plan doesn’t evolve with them, your loved ones may suffer the consequences.
How Figeroux & Associates Can Help
At Figeroux & Associates, we don’t just create estate plans — we help you maintain them for life. We recommend reviewing your plan every 3–5 years or after any major life event. Our attorneys ensure your documents reflect your current intentions, protect your assets, and comply with New York law.
Don’t let an outdated plan create new problems. Call 855-768-8845 or visit www.askthelawyer.us today to schedule a comprehensive review. Your future — and your family’s — deserves current protection.
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