Is it time to update your estate plan?

Typically, people spend valuable time and money getting an estate plan in place, but fail to update it as years pass and life changes.  We recommend reviewing your documents every three (3) to five (5) years to confirm that everything is accurate and that your documents still reflect your wishes and accomplish your estate planning goals. 

For instance, if someone named in your documents such as a beneficiary, personal representative, trustee, or agent has predeceased you, gotten married or divorced, lost capacity, has health issues, moved out-of-state or overseas, now has minor children, or relies on public governmental benefits for healthcare or living expenses, you may need to make changes to your plan.  If your children were minors when you executed your estate plan documents and now are responsible adults, you may want to name a child as your personal representative, trustee, or agent rather than another family member and/or friend that you previously named. 

Reviewing your plan regularly also ensures that your documents contain the most up-to-date legal provisions to protect you, your loved ones, and your legacy in light of recent changes in various state and federal laws.  Changes to the law may impact your estate plan significantly.  If it has been more than five (5) years since you reviewed your estate plan and/or you want to make changes to your current documents, contact us to set up an initial consultation.  We will review your current estate plan, discuss how your assets are titled, and discuss any changes that you would like to make.  Even if we did not draft your current documents, we are here to help you make all necessary updates and changes to reflect your wishes and estate planning goals.