The start of a new year is often a time people look at their lives and consider what, if anything, they want to change. People might decide to get healthier, be more adventurous or quit bad habits. This can also be an excellent time to think about your estate planning goals.
Your wishes for your estate and care needs can change over time, which is why it is essential to review your estate plan from time to time. Starting a new year could prompt you to do this; you might also revisit your plan after the following 10 events.
In terms of estate planning, events that affect our relationships can change who our beneficiaries and decision-makers are. Additionally, events like the birth of a child can require critical additions to an estate plan, such as appointing a guardian.
Changes involving lifestyle can influence what we have to leave behind in terms of gifts and legacy. And when there are updates to estate planning laws or when you move to a new state, the legal changes may prompt you to make some valuable revisions.
These are all events that can render previous plans inaccurate or create confusion among loved ones.
Updating your estate plan after significant events like these can be essential. Not only will it ensure the documents continue to reflect your wishes, but updating your plan can provide critical clarification and revisions that allow your loved ones and the courts to carry out your wishes more easily.
Using the right estate planning tools is an important part of providing for your loved…
Property Dispute Attorneys Provide Assistance to Property Owners Property and landline disputes are common in…
Help with Probate Problems Serving as the Personal Representative of an estate is an important…
Non-Compete Contracts Signing a non-compete contract is a fairly common part of the onboarding process…
Update Your Will or Trust You don’t need to worry about your estate plan expiring,…
Estate Planning Estate planning can be a complex process when you have children. Many parents…