Comprehensive Guide to Revocable Living Trusts in Chattanooga
At Jay Johnson Law Firm in Chattanooga, we help clients understand how a revocable living trust can be used to manage assets during life and simplify distribution after death. A revocable living trust is a flexible estate planning tool that allows the person who creates the trust to retain control while providing clear instructions for successors. Many people choose this approach to avoid or reduce probate, protect privacy, and provide for a smooth transition of property. This introduction outlines the basic benefits and practical uses so you can decide whether a revocable living trust fits your family’s needs in Hamilton County.
Choosing the right estate plan requires clear information about legal options, timelines, and practical effects. A revocable living trust can be updated or revoked during the grantor’s lifetime, offering adaptability as family, financial, or health circumstances change. At Jay Johnson Law Firm we prioritize straightforward explanations and tailored planning that matches your objectives, whether that means minimizing probate steps, clarifying successor management, or coordinating beneficiary designations. This guide is intended to help Chattanooga residents evaluate how a trust interacts with wills, powers of attorney, and beneficiary designations to create a cohesive plan.
Why Revocable Living Trusts Matter for Chattanooga Families
A revocable living trust matters because it offers control, continuity, and privacy for families in Hamilton County. Unlike a will that becomes public through probate, a trust generally keeps asset distribution private and can streamline transfer to beneficiaries. The flexibility to change terms during the grantor’s life is particularly valuable when financial situations, family relationships, or health considerations evolve. For households with real estate, retirement accounts, or business interests, a trust can reduce the administrative steps needed after incapacity or death. Understanding these benefits helps Chattanooga residents choose whether this approach aligns with their estate planning goals and family priorities.
About Jay Johnson Law Firm and Our Approach to Trust Planning
Jay Johnson Law Firm serves Tennessee families with a focus on clear, practical estate planning and probate services. Our approach emphasizes understanding each client’s priorities, explaining legal options plainly, and preparing documents that reflect real-world needs. For those in Chattanooga, we combine local knowledge of Hamilton County procedures with a commitment to personal service. Whether you need a revocable living trust to manage assets, plan for incapacity, or reduce probate involvement, our team provides attentive guidance throughout the drafting and funding process while keeping communication straightforward and responsive.
Understanding Revocable Living Trusts and How They Work
A revocable living trust is a legal arrangement in which a trustmaker places assets into a trust and retains the ability to modify or revoke the trust during their lifetime. The trust designates a trustee to hold and manage trust property, and a successor trustee to carry out trust terms if the trustmaker becomes incapacitated or dies. Funding the trust by transferring assets into it is an important step; without proper funding, a trust may not accomplish intended probate avoidance. For Chattanooga residents, understanding the funding process and how the trust coordinates with other estate planning documents is essential.
When considering a revocable living trust, it helps to know how the trust interacts with beneficiary designations, joint ownership, and retirement accounts. Certain assets, like retirement plans, typically transfer by beneficiary designation and may not be moved into a trust directly without tax considerations. Real estate and bank accounts, on the other hand, can often be retitled into the trust to achieve smoother post-mortem transfer. Our role is to explain these distinctions, help inventory assets, and recommend practical steps to ensure the trust accomplishes your goals for privacy, continuity, and efficient administration.
What a Revocable Living Trust Is and What It Does
A revocable living trust is a written legal instrument that holds assets for the benefit of named beneficiaries while allowing the creator to retain control during life. The trust is revocable, meaning the trustmaker can change beneficiaries, trustees, or terms as circumstances evolve. One primary function is to provide for management of assets upon incapacity, allowing a successor trustee to act without court-appointed guardianship. At death, the trust can distribute assets under its terms, often avoiding the public probate process and reducing administrative delay. Clear, well-funded trusts contribute to predictable outcomes for family members and heirs.
Key Elements and the Typical Trust Funding Process
Key elements of a revocable living trust include the trust document itself, the designation of trustee and successor trustee, a schedule of trust assets, and integrated powers of attorney and health care directives. The funding process typically requires identifying assets, retitling property or accounts to the trust, and ensuring beneficiary forms are coordinated. Failure to fund the trust can result in assets passing through probate despite having a trust document. Our process includes a detailed asset review, assistance with carrying deeds and account re-titling, and advice on beneficiary designations to align the entire estate plan with your objectives.
Key Terms and Glossary for Revocable Living Trusts
Understanding common terms helps demystify the trust planning process. Definitions such as grantor, trustee, successor trustee, beneficiary, funding, and probate are central to making informed decisions. This glossary provides plain-language explanations so Chattanooga residents can follow conversations and documents without confusion. Knowing the vocabulary empowers you to ask focused questions, evaluate options, and recognize when additional actions, like retitling property or updating beneficiary forms, are necessary to make your trust effective and aligned with your estate planning goals.
Grantor (Trustmaker)
The grantor, also called the trustmaker, is the person who creates and funds the revocable living trust. As the grantor, you retain the right to change trust terms, manage assets placed in the trust, and revoke the trust while you are alive. This role also includes setting instructions for how assets will be managed and distributed, selecting successor trustees, and naming beneficiaries. Understanding the rights and responsibilities of the grantor is important because those choices determine how the trust will operate during incapacity and after death.
Successor Trustee
A successor trustee is the person or entity designated to manage the trust if the grantor becomes incapacitated or dies. This individual steps in to administer trust assets, follow distribution terms, and handle transactions necessary for continuity. Choosing a reliable successor trustee and making backup selections helps avoid delays and family disputes. The successor trustee should understand fiduciary duties, recordkeeping obligations, and the need to act in beneficiaries’ best interests while following the trust’s written instructions.
Funding the Trust
Funding the trust means transferring ownership of assets into the name of the trust so those assets are governed by the trust document rather than passing through probate. Funding can involve changing deed ownership for real estate, re-titling bank or brokerage accounts, and ensuring that property intended for the trust is listed on the trust schedule. Some assets, like certain retirement accounts, require special consideration to preserve tax benefits. Proper funding is essential for achieving the trust’s intended benefits and minimizing the risk that assets will still require probate administration.
Revocation and Amendment
Revocation and amendment refer to the grantor’s ability to change or cancel the trust while alive. Because a revocable living trust is revocable, the grantor can update trustees, beneficiaries, or terms to reflect life changes such as marriage, divorce, births, or shifts in financial circumstances. These modifications must follow the trust’s formal requirements to be effective. Maintaining current, legally executed amendments ensures the trust reflects current wishes and reduces the potential for disputes during administration.
Comparing Estate Planning Options: Trusts, Wills, and Alternatives
Choosing between a revocable living trust and other estate planning tools depends on priorities like privacy, probate avoidance, cost, and control. A will directs probate-based distribution, while a trust can facilitate private transfer and continuity of asset management. Alternatives such as payable-on-death designations or joint ownership can transfer specific assets but may create unintended consequences or lack comprehensive coordination. Comparing options helps identify whether a trust fits within a broader plan that includes powers of attorney and health directives, ensuring your intentions are carried out efficiently and with minimal administrative burden for surviving family members.
When a Limited Approach to Estate Planning May Be Appropriate:
Smaller Estates with Clear Beneficiaries
For individuals with modest assets and straightforward beneficiary designations, a limited approach using a will and beneficiary forms may be sufficient. When property is jointly owned or benefits pass directly through designated beneficiaries, families might avoid the complexity of trust funding. Simple estate plans can reduce upfront legal work while still providing for incapacity through powers of attorney and health care directives. However, a limited approach may not address privacy concerns or streamline asset management—consideration of long-term goals and potential future complexities is important before deciding.
Low Concern About Probate or Privacy
If privacy and probate avoidance are not priorities, relying on wills and beneficiary designations can be appropriate. Some families are comfortable with the public nature of probate proceedings or face asset structures that make trust funding impractical. In these circumstances, a focused set of documents and updated beneficiary forms can accomplish immediate estate planning needs with limited expense. Still, it is important to review whether a limited plan adequately addresses incapacity planning and potential beneficiary disputes in the future.
Why a Comprehensive Trust-Based Plan May Be Preferable:
Complex Asset Ownership and Privacy Concerns
When assets include real estate, business interests, multiple accounts, or out-of-state property, a comprehensive plan that includes a revocable living trust can reduce administration and protect family privacy. Trusts can be structured to manage distribution timing, provide oversight for beneficiaries, and allow a successor trustee to act without court involvement. For families seeking to limit public probate proceedings and ensure continuity of management after incapacity, a trust-centered plan often provides greater control and predictability than isolated documents can achieve.
Planning for Incapacity and Smooth Administration
A comprehensive plan addresses not only asset distribution at death but also management during incapacity. By naming successor trustees and preparing supporting powers of attorney and health directives, a trust-based approach ensures someone can manage financial and health decisions without court supervision. This continuity reduces delays and potential family conflict when an individual loses capacity. For Chattanooga residents who want to minimize interruption to household and business affairs and provide clear guidance for successors, a comprehensive plan offers practical advantages in administration and peace of mind.
Benefits of a Comprehensive Revocable Trust Plan
A comprehensive approach provides coordinated documents that work together to protect your wishes, simplify administration, and plan for incapacity. Trusts can reduce the need for probate, maintain privacy, and allow successor trustees to manage assets smoothly. When combined with powers of attorney and health care directives, the overall plan addresses both financial and medical decision-making. This integrated strategy helps Chattanooga families reduce uncertainty for loved ones and provides clear instructions that reflect personal priorities for distribution, care, and asset management.
Coordination also reduces the risk of conflicting instructions among documents or unintended probate exposure for certain assets. By reviewing beneficiary designations, retitling assets, and updating documents as circumstances change, a comprehensive plan stays current and effective. This proactive maintenance is particularly valuable for families with blended households, minor beneficiaries, or ongoing business involvement. Regular review ensures that the trust and related documents continue to reflect goals and minimize administrative burdens for successors in Hamilton County and beyond.
Privacy and Probate Reduction
One central benefit of a revocable living trust is preserving privacy by avoiding probate for trust-owned assets. Probate proceedings are public records that can be time-consuming and create additional cost and stress for beneficiaries. A properly funded trust transfers many assets outside probate, allowing distributions to occur under written trust terms. This can result in a faster, more private settlement process, limiting exposure of personal and financial details and easing the administrative load on family members tasked with carrying out final wishes.
Continuity and Incapacity Planning
A trust-centered plan ensures continuity of asset management if the grantor becomes incapacitated. By naming a successor trustee and preparing supporting documents, the plan creates a clear, immediate path for someone to manage finances and property without court appointment. This continuity protects ongoing bills, mortgage obligations, and business operations, preventing unnecessary disruption. Having a trusted, well-documented plan reduces family uncertainty and creates a practical framework for decisions during difficult transitions.
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Practical Tips for Using a Revocable Living Trust
Inventory assets before funding
Before creating or funding a trust, compile a comprehensive inventory of assets, account numbers, deeds, beneficiary designations, and titles. This step clarifies which property should be retitled to the trust and which assets require separate beneficiary forms. A thorough inventory prevents oversight that could leave key assets subject to probate. Take time to identify real estate, bank accounts, investment accounts, retirement plans, and digital assets so the trust can be funded effectively and operate as intended when management or distribution is needed.
Coordinate beneficiary designations
Schedule regular plan reviews
Life changes such as marriage, divorce, births, deaths, or new assets require updates to your trust and related documents. Schedule regular reviews every few years or after major events to confirm the trust remains effective and funded properly. This ongoing maintenance prevents unintended results and makes sure successor trustees and beneficiaries remain appropriate. Periodic reviews provide an opportunity to implement improvements and adapt the plan to changes in law, financial circumstances, or family dynamics.
Top Reasons Chattanooga Residents Choose a Revocable Living Trust
Residents often choose a revocable living trust to keep family affairs private, avoid or minimize probate, and ensure a smooth transition of asset management in the event of incapacity or death. A trust also helps when beneficiaries are minors, have special needs, or when distribution timing should be managed over time rather than in a single lump sum. For those with property in multiple jurisdictions or business interests, trusts can provide practical continuity without separate probate proceedings in each location.
Other common reasons include the desire to reduce delay and administrative burden for loved ones, to name a trusted successor trustee for financial continuity, and to align estate planning with long-term care or incapacity concerns. A well-crafted trust, combined with powers of attorney and health directives, creates a comprehensive plan that addresses both everyday management and extraordinary events, giving families in Chattanooga clearer, more predictable outcomes during stressful transitions.
Common Situations Where a Revocable Living Trust Is Helpful
A revocable living trust is often appropriate for households with multiple properties, blended families, minor beneficiaries, or those who place a high value on privacy. It is also useful for individuals who want a clearly designated successor to manage finances during incapacity or who seek to coordinate assets across state lines. Understanding these circumstances helps homeowners and families in Chattanooga evaluate whether a trust will reduce probate exposure and provide the continuity needed to protect assets and honor the grantor’s intentions over time.
Owning Real Estate in Multiple States
When property is located in more than one state, separate probate proceedings can create added time and expense. A revocable living trust can reduce the likelihood of multiple probates by holding out-of-state real estate in trust, creating clearer instructions for successor trustees, and simplifying transfers upon death. This planning approach helps coordinate ownership and administration while minimizing duplicate court involvement and lowering administrative complexity for surviving family members.
Providing for Minor or Vulnerable Beneficiaries
For parents with minor children or beneficiaries who may need oversight, a trust allows the grantor to set specific distribution terms and name a trustee to manage assets until beneficiaries reach a specified age or milestone. This arrangement offers more control than a simple inheritance and reduces the risk of mismanagement. Trust provisions can include staggered distributions, educational trusts, or other conditions that align with the grantor’s intentions for long-term financial support.
Planning for Incapacity and Ongoing Management
When an individual anticipates possible future incapacity, a revocable trust creates mechanisms for someone to step in and manage financial affairs without court intervention. Successor trustees can pay bills, manage investments, and ensure care arrangements without delay. This continuity is valuable for families who want to preserve household stability and business operations during periods when the grantor cannot act, providing an organized plan for day-to-day and long-term financial management.
Chattanooga Revocable Living Trust Attorney
Jay Johnson Law Firm in Chattanooga is available to guide you through creating and funding a revocable living trust tailored to your circumstances. We provide clear explanations, assist with document preparation, and help coordinate asset retitling and beneficiary reviews. Our goal is to make the process understandable and manageable so you can protect family interests and minimize administrative burdens. Call our office to schedule a consultation about trust options and the steps needed to implement a plan aligned with your objectives in Hamilton County.
Why Choose Jay Johnson Law Firm for Trust Planning
Jay Johnson Law Firm emphasizes clear communication and practical planning to help Chattanooga clients achieve reliable estate plans. We focus on understanding your family dynamics, assets, and long-term goals, then translate those priorities into legal documents that work together. Our approach includes step-by-step guidance through funding, assistance with deed and account retitling, and recommendations to coordinate beneficiary designations for consistent results across your estate plan. This practical orientation helps reduce surprises and administrative burdens for your loved ones.
We aim to make the creation and funding of a revocable living trust accessible and straightforward, explaining legal choices in plain language and advising on the most effective structure for your situation. Our work includes preparing the trust document, drafting supporting powers of attorney and health directives, and providing checklists to help implement the plan. For Chattanooga families concerned about asset continuity and privacy, our firm offers practical, client-focused assistance through each step of the process.
From the initial consultation to plan maintenance, our priority is ensuring your wishes are reflected accurately and that successor trustees have clear instructions to act when needed. We provide guidance on periodic reviews and updates so the trust remains current with changes in family circumstances or asset portfolios. This ongoing attention helps maintain the effectiveness of your estate plan and reduces unexpected difficulties for beneficiaries and trustees in the future.
Contact Jay Johnson Law Firm to Discuss Revocable Trust Options
How We Handle Revocable Living Trusts at Our Firm
Our process begins with a thorough consultation to gather details about assets, family structure, and objectives. We then prepare a trust document tailored to those goals, coordinate funding steps such as deed transfers and account retitling, and draft complementary documents like powers of attorney and health care directives. We provide guidance on beneficiary forms and offer practical checklists for implementation. Throughout, we maintain clear communication so you understand each action required to make the trust effective and aligned with your estate planning priorities.
Step One: Initial Consultation and Asset Review
The initial meeting focuses on understanding your goals, family dynamics, and asset profile. We review real estate, bank and investment accounts, retirement plans, life insurance, and business interests to determine which assets should be included in the trust and what coordination is necessary. This discovery phase helps identify potential funding needs and tax or beneficiary issues. Clear inventory and discussion of priorities allow us to draft a trust that reflects your intentions and addresses foreseeable concerns about management and distribution.
Gathering Documents and Identifying Assets
We request deeds, account statements, titles, beneficiary forms, and any existing estate documents to create a complete asset inventory. This information reveals ownership structures and identifies assets that require retitling or beneficiary updates. Gathering documentation early prevents surprises during funding and ensures the trust will control the intended property. Our review highlights actions you can take to streamline funding and clarifies how each asset should be handled to achieve your planning objectives.
Discussing Goals and Successor Roles
During this stage, we discuss who you want to name as trustee and successor trustee, how and when beneficiaries should receive distributions, and any conditions you wish to include. We also address incapacity planning and roles for powers of attorney and healthcare agents. These conversations shape the trust’s structure and ensure successor decision-makers have clear authority and guidance. Deciding these matters upfront reduces ambiguity and allows us to draft effective provisions.
Step Two: Drafting and Review of Trust Documents
After gathering information and clarifying goals, we draft the trust and supporting documents tailored to your needs. The draft includes provisions for trustee authority, successor appointment, distribution timing, and incapacity management. We then review the documents with you, explain each provision in plain language, and make revisions to reflect your preferences. This collaborative review ensures the trust aligns with your intentions and that you and your successor trustees understand the obligations and processes involved.
Preparing Supporting Powers and Directives
In addition to the trust instrument, we prepare financial powers of attorney and advance healthcare directives to cover decision-making during incapacity. These supporting documents ensure someone can manage financial and health matters immediately, complementing the trust’s authority over assets. Clear integration among these documents reduces the need for court involvement and provides a coordinated plan for both everyday and emergency decisions.
Client Review and Finalization
Once drafts are prepared, we meet to review the language, answer questions, and finalize terms. This meeting provides an opportunity to confirm trustee duties, distribution mechanisms, and any conditions attached to inheritances. After you approve the documents, we assist with proper execution and provide guidance on next steps for funding the trust. Finalization includes checking that all documents are signed according to legal requirements to ensure enforceability.
Step Three: Funding the Trust and Ongoing Maintenance
Funding the trust is a critical final step that often involves transferring deeds, updating account registrations, and confirming beneficiary forms. We provide practical checklists and assistance with deed preparation and account retitling, and we advise whether certain assets should remain outside the trust for tax or regulatory reasons. After funding, we recommend periodic reviews to update the trust as family circumstances or assets change, helping maintain alignment with your long-term intentions and ensuring the trust remains effective.
Retitling Real Estate and Accounts
We assist with the mechanics of retitling property and accounts into the trust, preparing necessary deeds and transfer forms and coordinating with banks or title companies. Proper retitling ensures assets are governed by trust terms and reduces the likelihood of probate. Our guidance includes practical steps, timing recommendations, and warnings about potential tax consequences so transfers proceed smoothly and securely for Chattanooga property owners.
Periodic Reviews and Updates
After the trust is funded, we recommend reviewing your plan periodically or after major life events. Updates may be needed after marriage, divorce, births, deaths, or significant financial changes. Regular maintenance keeps the trust current, ensures beneficiary designations remain consistent, and addresses any newly acquired assets. Ongoing attention helps ensure the trust continues to meet your objectives and reduces the chance that assets will unintentionally fall outside the plan.
Frequently Asked Questions About Revocable Living Trusts
What is a revocable living trust and how does it differ from a will?
A revocable living trust is a legal document that holds and manages assets during your lifetime and provides directions for distribution after death while allowing you to retain control and make changes. Unlike a will, which becomes effective only at death and generally must pass through probate court, a properly funded trust can manage assets during incapacity and often transfer trust-owned property without probate court administration. This can result in a more private and potentially faster transition for beneficiaries.A will remains useful as a backup for assets unintentionally omitted from the trust and for naming guardians for minor children. Together, a trust and will can form a coordinated estate plan that addresses both asset distribution and guardianship considerations, reducing uncertainty and administrative burden for loved ones.
Will a revocable living trust avoid all probate in Tennessee?
A revocable living trust can significantly reduce the need for probate for assets that are properly titled in the trust’s name. However, not all assets are transferred into a trust automatically; retirement accounts, certain payable-on-death assets, and jointly owned property may have separate rules. If assets remain titled in your individual name at death, they may still require probate administration in Tennessee.To maximize the probate-avoidance benefits of a trust, careful funding is essential. Regular review of beneficiary designations and ownership titles helps ensure that the trust controls the intended assets and reduces the likelihood that probate will be necessary for key property in Hamilton County.
How do I fund a revocable living trust and which assets should go in it?
Funding a revocable living trust typically involves re-titling real estate deeds, changing ownership of bank and brokerage accounts, and updating titles where appropriate so the trust holds legal title. You should provide a full inventory of assets and account details so each item can be evaluated for transfer. Certain accounts, such as retirement plans, may be better handled with beneficiary designations rather than direct transfer to avoid tax consequences.We recommend following a step-by-step funding checklist and working with counsel or financial institutions to complete transfers correctly. Proper funding is the key to ensuring the trust functions as intended and that assets avoid probate and are managed according to your directions.
Can I change or revoke my revocable living trust after it is created?
Yes. Because a revocable living trust is revocable, the grantor typically retains the ability to amend or revoke the trust during their lifetime. This flexibility allows changes to trustees, beneficiaries, or distribution terms as personal circumstances evolve. Formal amendments should be made in writing and signed according to the trust’s execution requirements to ensure they are legally effective.While the trust can be changed, it is important to document revisions properly and to communicate material changes to successor trustees or family members when appropriate. Keeping the document up to date reduces confusion and helps ensure the trust reflects current wishes.
Who should I name as successor trustee and what are their responsibilities?
A successor trustee should be someone you trust to manage assets responsibly, follow the trust’s instructions, and act impartially toward beneficiaries. Responsibilities include collecting and managing trust assets, paying debts and taxes, and distributing property according to the trust terms. You may select a family member, friend, professional fiduciary, or corporate trustee depending on the complexity of the estate and the skills required.It is wise to name successor trustees in succession—primary and backups—to address potential unavailability. Discussing the role with the chosen individual ahead of time ensures they understand responsibilities and are willing to serve when needed.
How does a revocable living trust affect taxes for my heirs?
Generally, a revocable living trust does not change income tax consequences for the grantor during life because the grantor remains the owner for tax purposes. At death, tax consequences for heirs depend on asset types, existing tax rules, and whether assets receive a step-up in basis. Some assets like retirement accounts may carry tax implications that differ from trust-owned accounts and require careful planning to preserve tax benefits.Tax planning should be considered alongside trust planning, especially for larger estates or assets with significant unrealized gains. Coordinating estate documents with tax advice helps beneficiaries avoid unexpected tax outcomes and aligns distribution strategies with financial goals.
Do I still need a will if I have a revocable living trust?
Yes. Even with a revocable living trust, a pour-over will is often included as a safety net to direct any assets not transferred into the trust to be moved into it upon death. A will also serves to name guardians for minor children and addresses matters that a trust may not fully cover. The combination of a trust and a will provides redundancy that helps prevent gaps in your estate plan.Keeping both documents current and coordinated ensures that unintended probate is minimized and that guardianship and other personal directives are clearly expressed. Regular review prevents conflicts between documents and maintains the plan’s effectiveness.
How long does it take to create and fund a revocable living trust?
The time required to create and fund a revocable living trust varies depending on asset complexity and client availability. Drafting the trust and supporting documents can take a few weeks when information is provided promptly. Funding—the process of retitling property and updating accounts—can extend the timeline, especially if deeds, title companies, or financial institutions are involved.Working proactively and following a clear checklist speeds the process. Coordination with banks, title companies, and other institutions typically determines how quickly the trust becomes fully funded and operational.
What happens if I fail to fund my trust properly?
If a trust is not funded properly, some assets may remain in the grantor’s individual name and therefore be subject to probate despite the existence of a trust document. This outcome can create the very delays and public proceedings the trust was intended to avoid. It may also complicate administration for successor trustees and beneficiaries who expected assets to pass directly under trust terms.Regular review and a careful funding checklist reduce the risk of incomplete transfers. Confirming account ownership and updating deeds and beneficiary forms as recommended ensures the trust functions as intended and avoids unintended probate exposure for important assets.
How often should I review or update my revocable living trust?
Review your revocable living trust periodically and after major life events such as marriage, divorce, births, deaths, significant changes in assets, or moves to another state. Regular reviews every few years help ensure beneficiary designations, trustee selections, and distribution terms remain appropriate. Changes in law or financial circumstances may also warrant updates to preserve your intentions.Maintaining up-to-date documents reduces the chance of unintended results and ensures successor trustees have current instructions to follow. Scheduling periodic check-ins with your attorney helps keep the plan effective and aligned with your goals.