The term ‘Easter Eggs’ makes many of us think of something that was hidden and hunted as a fun childhood tradition during the celebration of Easter each spring.  However, there is also a modern meaning to the term ‘easter egg’ that captures the spirit of hiding and hunting as well.  The Urban Dictionary defines ‘Easter Egg’ as “a hidden item placed in a movie, television show, or otherwise visual media for close watchers.”  Usually, as in the original meaning, these eggs bring a pleasant surprise when discovered.

Estate plans can have ‘easter eggs,’ or hidden items that are definitely there but not always intentionally so.  And these kinds of hidden items can actually cause unpleasant surprises.

Two Common Ways your Estate Plan can Turn Rotten

When a client’s life circumstances change but their estate plan is not updated, confusion at best and conflict at worst can ensue.  For example, have grandchildren been born since you created your estate plan?  Do you want them included?  Should they be automatically included if their parents should pass away before you do?  Sometimes language in your trust that hasn’t been updated as new life circumstances develop can cause important beneficiaries to be overlooked and some rotten feelings could result.  In other words, if your plan is not regularly updated, there could be an unpleasant ‘easter egg’ hiding in your older documents.

Another huge source of ‘bad eggs’ are subtle changes in the law that create problems in your existing estate plan.  These changes may come from actual laws changed by the State Legislature, or they can come from case law rulings in higher courts.  They often have unintended consequences.  We have a saying in law school, “hard cases make bad law. 

For example, a recent law enacted in the last two years requires a costly formal accounting each year in the event a trust creator is incapacitated.  Why is this a big deal?  These accountings are very expensive and can be complicated.  Estate plans written by our firm seek to waive these accountings as they are often unnecessary.  Since almost no one knows this was recently made a requirement, some estate plans may not contain this important waiver language.

Our firm keeps up with both legislative and court law developments regularly.  We also check in with our clients every 5 years or so, to make sure they haven’t had any new life circumstances that would necessitate updates to their estate plans.

Come see my trained attorneys and staff.  We’ll help you find the ‘bad eggs’ and write in good surprise treasures for your family this Easter season!