Can I Change My Estate Plan if My Circumstances Change in Massachusetts?

Life is constantly evolving. We understand that the decisions you make while setting up your estate plan are based on conditions at a finite moment in time. Circumstances such as marriage, the birth of a child, a significant change in finances, or even a change in your health condition could necessitate a review and probable alteration of your estate plan. Being open to adjustments ensures that your estate plan remains aligned with your wishes and the welfare of your beneficiaries.


Modifying Wills and Trusts

In Massachusetts, changing your estate plan to suit new circumstances is not only possible, but sometimes necessary. Wills and trusts, the core instruments of estate planning, are amenable to alterations, allowing you to adapt to the changing rhythms of life.

A will can be amended using a legal document known as a “codicil.” This document facilitates minor changes without rewriting the entire will, preserving the original directives that remain relevant while modifying others to suit your current wishes. Meanwhile, trusts can be updated through a straightforward process termed “amendment”, wherein specific clauses in the existing trust document are altered to mirror your current intentions accurately. Whether revisiting the guardian clause for your minors, stipulating new charitable donations, or adjusting asset distributions, we are here to help you update your estate plan meticulously, retaining the spirit of your original intentions while making room for the new changes.


Changing Beneficiaries

Over time, you might find the dynamics of your relationships evolving. Massachusetts’ legal framework provides the flexibility to change beneficiaries in your estate plans, allowing you to accommodate new family members or adjust to evolving relationships. It is a sensitive process that requires not only legal expertise, but also an understanding of family dynamics to craft solutions that honor your wishes while maintaining family harmony. We stand by you to assist in revisiting your beneficiary nominations, ensuring that the distribution of your assets remains in line with your evolving desires. We will guide you in updating your estate plan in Massachusetts, following all the legal requisites to prevent potential conflicts in the future.


The Role of Power of Attorney

Another vital part of your estate plan is designating a power of attorney –  someone to make financial decisions on your behalf if you are unable to do so. Given the crucial role the power of attorney plays, it may be necessary to update this as changes occur in your life. We are here to help you ensure that your choice of a power of attorney aligns with your current situation and preferences.


Health Care Proxies and Living Wills

Your health and well-being are paramount. Thus, updating your health care proxy and living will to reflect your current wishes is essential. In Massachusetts, we can assist you in reviewing and making necessary alterations to these documents, ensuring that your healthcare preferences are respected, and that the right person is making those critical decisions on your behalf.


Keeping Assets Updated in Your Massachusetts Estate Plan

A well-laid-out estate plan includes an up-to-date list of all your assets. We often notice that as people acquire or relinquish assets, it becomes necessary to update their estate plans accordingly. Our team will help you keep track of your assets, ensuring that your estate plan in Massachusetts correctly mirrors your asset portfolio at all times.

Keeping your estate plan relevant and updated to Massachusetts standards is not a one-time event but an ongoing process. It is advisable to review your estate plan periodically, especially when significant life events occur. Collaboratively, we can ensure that your estate plan remains a true reflection of your wishes, providing you with peace of mind and securing your legacy for your loved ones.


Work with the Compassionate Attorneys at Casey Lundregan Burns to Adjust Your Estate Plan

Life changes and your estate plan should reflect these changes adequately. With over 80 years of experience helping Massachusetts families adjust their estate plans to changing circumstances, the Casey Lundregan Burns team stands ready to guide you every step of the way. Reach out to us to ensure your estate plan remains aligned with your evolving needs and preferences. Learn more by scheduling your case evaluation online or contacting us at (978) 878-3519.