When to Encourage Clients to Take Another Look and Why
You know the saying life passes you by when you are having fun? That old saying has never been more true than it is today. Life seems to fly by even during challenging times and the regular day-to-day of it all. But all of that forward motion also means change!
The Importance of Re-Examining a Will
With all of the advances in technology and the quicker evolution of society, life events come at an even faster speed.
Because of this, it is important to have more frequent check-ins on your will to re-evaluate your estate and inheritance plan. Think of it like portfolio calibration. You wouldn’t just buy a few stocks and then leave your portfolio to “do its thing” and not adjust it as financial situations and needs change, would you?
Checking in periodically and re-examining a will can help clients adjust it when needed for when life changes. It can also keep an eye on possible probate exposure and so much more.
Times When Clients Should Re-Examine and Update their Will
While some wills do stand the test of time, there are many things people just may not consider at one point in their life when writing up their will that could arise later in life. Here are some times when clients should re-examine and consider updating their will.
- If they change their principal place of residence (e.g. they retire to another state)
- After the birth of a child
- If they are thinking about divorce or have gotten divorced
- When a child gets married
- When a beneficiary develops a creditor or substance abuse problem
- When named executors or beneficiaries die
- When a young family member becomes an independent adult
- New legislation is passed that could derail your estate plan (such as tax laws)
- If you come into a windfall of money, such as stock earnings, an inheritance, or winning the lottery
- When the original will can’t be found
- When family or friends become “enemies” and have a change of heart about distribution of assets (e.g. disinheritance)
An Easier Way to Update Wills
Okay, so there is a need to re-examine and update wills more often these days. But is there an easier way to do this? Yes! Let’s dispel those old, outdated practices!
With OneDigitalTrust, you can help clients take the stress out of estate planning and make it easy to not only create an estate plan, but update it often to ensure they continue to protect their family’s future. Our platform is the most comprehensive digital platform for estate and inheritance planning with enterprise-grade capabilities. The best part is that periodically, the platform will automatically send a message to clients nudging them to check the health of their estate plan. In a few minutes they are done, and if necessary, they are prompted to reprint new documents that supersede the previous version. It’s as simple as that.
We offer robust estate planning services with bank-grade data security. Your clients can create and store all of their estate planning documents on a single platform, ensuring a will is never lost again and is easy to access and update through all of life’s various stages. Our solutions include hardwired aggregation tools, auto-probate exposure checks, trust funding gap detection, and legally valid documents for all 50 states plus Washington DC.
Our platform can also be integrated into your own branding with robust customization capabilities. This allows you to not only complement your own existing offerings, but do it in a way that builds even greater trust and loyalty between you and your clients.
Finally, it’s important to choose a platform that is capable of lifelong service. OneDigitalTrust continues to evolve with the needs of your clients, allowing them to re-examine their will at any time and make changes when they need to. So let’s help your clients take the stress out of updating their will together! Learn more about our robust digital estate planning platform today.