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One Call You Must Make After You Buy a Home

That You’ve Probably Forgotten

During the home buying process, you worked with a lot of individuals: your realtor, the seller’s realtor, the title company, the loan officer, and the home inspector.  Now that you have finalized the purchase of your house, there is one more expert you need to call: your estate planning attorney.

Aligning Your Ownership with Existing Estate Planning

First, your attorney can help you review the new documents associated with your home purchase in conjunction with your existing estate plan to ensure that everything aligns and works towards your overall estate planning objectives. If your existing estate plans include a trust that owns all of your assets, it is crucial that your new home is titled in the name of the trust and not in your name individually (or jointly if married).

General Review/Update of Your Estate Plan

Since you have engaged in a new life changing event, now is the perfect time to review your existing plan. This is a great opportunity to make sure that the individuals you have appointed in the crucial roles of guardian, executor, agent, or trustee are still able to carry out those duties when the need arises. With the passage of time, these individuals may have moved away, died, or otherwise undergone a life change themselves that makes them a less than desirable candidate to act on your behalf.

While you are reviewing your estate plans, it is also important that you review the dispositive language.  Do you still want to have your assets divided the same way? Have the needs of your beneficiaries changed over the years? To ensure that you are protecting and providing for your beneficiaries, you need to make sure that the provisions are set up for the best individualized protection.

Lastly, if the purchase of your new home is in a different state, you will definitely want to visit an estate planning attorney.  By changing states, the documents you previously have prepared may not adequately protect you and your family.  Each state has unique laws regarding trusts and estates, you will need to make sure that any documents you are currently relying on are enforceable in your new state. Unenforceable or not-optimized documents can be just as bad as having no estate planning documents at all.

Give us a call.

Buying a new home is a great new adventure.  Give us a call so we can make sure that you are embarking on this new chapter in your life fully protected.


What Clients Are Saying…

My rating:

I contacted Lancier Legal to help me deal with a probate issue. They were incredibly helpful and easy to work with during a especially difficult time for us. I would highly recommend their services to anyone in need of help with a will or trust.

My rating:

I used this firm to do my family estate planning. They were knowledgable and helped create a strategic plan that made sense. The lawyers are timely, organized, and effective in the whole process. The cost was also very reasonable! I would recommend to friends and family members for sure!

My rating:

I contacted the estate planning attorneys at Lancier Legal because I wanted to limit my tax liability on the upcoming sale of an asset that had rapidly appreciated in value. They were very knowledgeable on the issue and great to work with. …

501 W. Broadway, Suite 1620
San Diego, CA, 92101

About Eddie Johnson

Eddie Johnson has practiced in the San Diego, California since he became a licensed attorney. He focuses his practice on estate planning, and tax law as it relates to estate planning. He is a member of the California Bar Association, and a member of the Estate Planning Trust and Probate section of the San Diego County Bar Association.