Has Your Estate Plan Kept Up with Your Life?

By Lori Rosehart

In the summer of 2020, we were all living through a history chapter. According to a 2021 survey by Caring.com, the global COVID-19 pandemic inspired almost one in two younger adults to start planning their estates. The trend of creating or updating a will, trust or estate plan was similar across generations. Now, six years later, how has life changed? August is National Make-A-Will Month and a perfect time to see if your wishes remain the same.

A will, trust and estate plan isn’t a “create it and forget about it” type of document. The estate planning attorneys who partner with The Orange Catholic Foundation (OCF) recommend reviewing documents about every five years. Here are six key things to keep in mind while revisiting your plan:

1. Has your marital status changed?

2. Has your family been blessed with a new child or grandchild?  

3. Have you changed your mind about guardianship, your executor or beneficiaries?  

4. Have you moved?  

5. Has your financial situation changed?  

6. What kind of updates have been made to state and federal estate tax laws?

Estate planning is much more than your basic, personal facts and legal protections; it’s also about the faith-filled legacy you want to leave for your family and loved ones. Here are three questions to prayerfully consider as you update your plans:  

1. Does my will, trust and estate plan reflect my Catholic faith and values?  

2. Will my choices honor my family, and more importantly, bring glory to God?

3. Do my plans reflect my love and care for my parish or favorite Catholic ministry that greatly impacted my spiritual journey?  

Whether your estate plan needs a refresh or you’re starting from scratch, you can take that step today. It’s not too late! OCF has several additional Catholic resources that you might find helpful:  

1. Receive a FREE Catholic Estate Planning Guide

2. Gain a Catholic perspective on End of Life Care  

3. Fill out a Catholic Advanced Care Directive

4. The Light of Christ Legacy Society, an exclusive Catholic community made up of men and women who are committed to passing on the faith through an estate plan gift to the Church

Remember, you are not alone! The Orange Catholic Foundation is here to serve you. We can connect you with a Catholic estate planning attorney or even work with your current advisors on how to include a simple sentence that reflects the love for your family, your faith and the Church. Reach out to our team today at 714.282.3021 or info@OrangeCatholicFoundation.org  

Please note The Orange Catholic Foundation does not provide tax, legal or accounting advice. This material is prepared and made available for informational purposes only.

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About the Author

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Lori Rosehart is the Philanthropy Impact Specialist for The Orange Catholic Foundation. As a journalist and communications professional, she has spent more than 15 years crafting stories that inform, inspire and strengthen connections within communities. Her work has earned three Emmy Awards and an Edward R. Murrow Award.