Revisiting an estate plan due to a serious injury

Even when life moves forward without unexpected crises, creating an estate plan and making critical decisions related to a will or trust is tough for many people. However, some people find themselves in a particularly challenging position when it comes to estate planning. For example, those who sustain a serious injury have additional factors to take into consideration when it comes to their estate plan. Sometimes, the way in which assets are distributed requires a second look, and other questions arise as well. 

Whether someone is hurt in a car crash, injured in an accident that occurs on the job or sustains an injury for any other reason, they often require assistance from loved ones and time to recover. However, some people find that certain family members they thought they could count on are unavailable. This is especially concerning if a loved one fails to help out when they are designated as the executor of an estate plan. For example, some people find that other family members who are more supportive and capable of helping out are more suitable for managing an estate plan, necessitating the renaming of an executor. In some instances, people even decide to change the way in which they distribute their assets because certain beneficiaries were absent during a time of great need.’ 

These are just a few of the reasons why revising estate plans after an injury is necessary. Furthermore, many people who are seriously hurt have difficulty handling these responsibilities, especially if they are in a lot of pain or are facing significant financial challenges due to their condition. Please visit our page on estate planning to read more about modifying an estate plan. 

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