You paid a lawyer, signed the documents, and put them in a drawer five years ago. But is your plan actually going to work when your family needs it? This stress test exposes the most common points of failure in existing estate plans.
The Stress Points
We evaluate your plan against the realities of time, legal changes, and administrative follow-through.
The Funding Check
If you have a trust, is the deed to your primary residence actually titled in the name of the trust?
The Beneficiary Check
Do the primary beneficiaries on your 401(k) and life insurance exactly match the intentions in your will?
The Guardian Check
Are the guardians you named for your children still physically, financially, and geographically capable of raising them?
Interpreting the Results
If your plan fails the stress test, it doesn't mean you need to start from scratch. Often, a simple 'codicil' (amendment) to your will or a quick update to your beneficiary forms is all that's required to secure your legacy.
Tip
The 3-Year Rule
Even if nothing major has changed in your life, you should have an estate attorney review your plan every 3 to 5 years to ensure it complies with new state or federal tax laws.