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Why an Estate Plan Maintenance Plan is a Smart Investment to Control Your Legal Costs and Protect Your Future

Posted by James Burns | Oct 15, 2024 | 0 Comments

Estate planning is one of the most important steps you can take to secure your legacy and protect your family's future. However, creating an estate plan isn't a “set-it-and-forget-it” type of task. Life changes—marriages, births, deaths, and even changing laws—require that your estate plan remain flexible and up-to-date. Without regular updates, your well-thought-out estate plan can quickly become outdated and ineffective, potentially leading to costly legal issues down the road.

This is where an Estate Plan Maintenance Plan comes in. It's a proactive solution that not only ensures your plan is always current but also helps you control and minimize legal costs. Investing in such a plan gives you peace of mind, knowing that you can easily amend or update your documents without incurring additional fees or facing legal disasters in the future. Let's explore why an estate plan maintenance plan is a wise investment and look at real-life scenarios that illustrate its importance.

The Risks of a "Stale" Estate Plan

An estate plan needs regular attention to ensure it reflects your current wishes and life circumstances. Unfortunately, many people create their estate plans and then leave them untouched for years, sometimes decades. This can be a recipe for disaster.

Consider the story of Estate of Willard v. Willard, where the decedent's estate plan had not been updated after a divorce. As a result, the ex-spouse was still listed as a beneficiary, even though the decedent had remarried and intended to leave his assets to his new wife and children. The court battle that ensued drained significant portions of the estate in legal fees and left the family in turmoil. This could have easily been avoided if the decedent had a maintenance plan in place, allowing for regular reviews and updates.

Lesson: Even minor life changes, such as a new marriage, divorce, or the birth of a child, can create unintended consequences if your estate plan doesn't reflect them. Without updates, you could leave assets to the wrong people or leave your loved ones dealing with expensive and emotionally draining legal challenges.

The Value of Proactive Estate Plan Maintenance

An Estate Plan Maintenance Plan is a service where, for a fixed annual or monthly fee, you gain unlimited access to updates, amendments, and reviews of your estate plan. This ongoing relationship with your estate planning attorney ensures that your documents remain aligned with your goals, current laws, and your evolving life circumstances. But the true value lies in avoiding the high cost and risk of outdated plans.

Let's take the example of Smith v. Estate of Smith. In this case, the decedent had an estate plan that was drafted decades ago, and although they had acquired new real estate properties over the years, they never amended the trust to include these assets. When they passed, the assets had to go through probate—a process that cost the family tens of thousands of dollars and caused significant delays in distributing the estate. A simple deed preparation, which would have been included in a maintenance plan, could have saved the family money and stress.

Lesson: By maintaining your estate plan, you ensure that new assets, like real estate or business interests, are properly titled and included. This can prevent costly probate proceedings and ensure a smooth transfer of your estate.

Avoiding the "Hidden Cost" of Legal Fees

Legal fees can escalate quickly when it comes to updating estate plans or resolving issues that arise from outdated documents. A single amendment to a will or trust, or the preparation of a deed for real estate, can cost hundreds of dollars. If you need multiple changes over the years, those fees add up fast. But with a maintenance plan, all of these services are covered under a predictable, fixed fee.

For example, suppose you need to update your estate plan because you've had another child or want to make changes to your healthcare directives. Without a maintenance plan, you'd likely pay around $500 per amendment. Multiply that by several updates over the years, and it can easily cost you thousands. An estate plan maintenance plan saves you from these surprise costs, offering unlimited updates and annual reviews for a flat, predictable fee.

How an Estate Plan Maintenance Plan Gives You Control Over Your Destiny

A maintenance plan doesn't just protect your estate—it protects your ability to control your legacy and the future of your loved ones. By enrolling in such a plan, you ensure that:

  • Your documents are always updated to reflect current life events, such as marriage, divorce, the birth of a child, or significant financial changes.
  • You avoid the hidden costs of one-off legal fees for amendments, new deeds, or trust updates.
  • Your estate is protected from probate costs and unnecessary delays, thanks to regular reviews and updates.
  • You have access to legal advice whenever you need it, with no extra charges for amendments, healthcare directive changes, or document replacements.

Most importantly, a maintenance plan guarantees that your estate plan remains an accurate reflection of your wishes, ensuring that your loved ones are cared for according to your intentions, without the burden of unnecessary legal disputes.

Real-Life Example of the Pitfalls of Ignoring Estate Plan Maintenance

One real-life case involves the estate of actor Heath Ledger. After his untimely death, it was discovered that his will had not been updated following the birth of his daughter, Matilda. As a result, his estate did not automatically provide for her. While the situation was eventually resolved, it caused legal and financial complications that could have been avoided with a simple estate plan update. A maintenance plan would have ensured regular reviews and timely amendments.


Take Control of Your Future Today

Don't wait for life's changes to catch up with your estate plan. With the Estate Plan Protection Plan from the Law Office of James Burns, you can protect your legacy, avoid costly legal fees, and ensure that your estate plan is always current. Whether you need to make an amendment, prepare a deed, or simply review your existing plan, our maintenance plan provides you with peace of mind and comprehensive coverage—all for an affordable, predictable fee.

Contact the Law Office of James Burns today to learn more about enrolling in the Estate Plan Protection Plan and take control of your future. Call us at (949) 305-8642 or visit us online at www.jamesburnslaw.com to schedule a consultation.

About the Author

James Burns

James Burns, Esq. is a seasoned attorney specializing in estate planning, asset protection, and tax law. Known for his expertise in Private Placement Life Insurance (PPLI), James helps high-net-worth individuals protect their wealth and achieve tax efficiency, including pre-immigration planning. With over 20 years of legal experience, he offers tailored solutions for estate planning and corporate transactions. James is also a published author and sought-after speaker, recognized for his deep knowledge and strategic approach to wealth preservation.

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