Most families believe that once they have signed their will or trust, their estate plan is complete. The documents are in order, the intentions are clear, and the hard work is done. What they do not realize is that for many families, estate plans begin to fall apart the second they encounter the very situations they were meant to protect against.
This doesn’t happen because the documents are wrong or even because the intentions are unclear. But if there is a lack of coordination between estate planning documents and the accounts and assets those documents are supposed to control, the estate plan can be essentially meaningless. Our Plainfield, IL estate planning attorney explains.