Life never stands still—and neither should your estate plan. At Madigan & Scott Inc., based in Springfield, Virginia, we understand that major life milestones—from joyous celebrations to unexpected challenges—can affect how you want your legacy managed. Without timely updates, outdated documents or generic legal defaults may determine what happens to your estate.
Here are some critical times when Springfield residents should revisit their estate plans:
Becoming a Parent
Welcoming a new child into your family is life-changing—and your estate plan should reflect that. As parents, you want to ensure your children are protected not just day-to-day but in the long term. Updating your estate plan allows you to designate trusted guardians, ensure financial support, and gain peace of mind knowing your child will be cared for, no matter what the future holds.
Marriage or Divorce
In Virginia, marriage and divorce significantly impact your legal and financial standing. Getting married means merging lives—and often assets. An updated estate plan ensures your spouse is appropriately included and your wishes are documented clearly.
Divorce, on the other hand, is a time for swift estate plan revisions. Without updating your documents, an ex-spouse could remain a beneficiary or decision-maker. At Madigan & Scott, we help you make the necessary changes to protect your interests during this major transition.
Moving to Virginia
If you’ve recently moved to Springfield or elsewhere in Virginia, it’s essential to ensure your estate documents comply with Commonwealth of Virginia laws. Wills, trusts, powers of attorney, and healthcare directives vary state to state—what was valid elsewhere might not be enforceable here. We can help you adapt your plan to align with local regulations.
Significant Financial Changes
A major inheritance, the sale or purchase of real estate, starting a business, or facing economic hardship can all shift your estate planning goals. It's vital that your documents reflect your current financial picture and continue to support your intended beneficiaries.
At Madigan & Scott, we’ll help you revise your plan to reflect these changes with clarity and confidence.
Loss of a Beneficiary or Executor
If a person named in your estate plan—whether a beneficiary, executor, or guardian—passes away or becomes unable to serve, your plan should be updated without delay. These roles are too important to leave in limbo. We’ll guide you through making the necessary changes so your estate administration remains smooth and aligned with your intentions.
How Often Should You Review?
In general, we recommend reviewing your estate plan every three to five years, or after any significant life event. Our estate planning attorneys at Madigan & Scott Inc. are here to provide personalized, local advice to ensure your plan stays current and effective.
Whether you're just starting your estate planning journey or it's time for an update, our Springfield-based team is ready to help. Contact us today to schedule a consultation.