Did you create your estate plan when your kids were born? That is great, but life changes have made it become outdated.
Things to consider when evaluating your estate plan to determine if a new one is necessary.
- Are your kids now adults? If so, the guardian provision is out of date.
- Do your children have children? Do you want to add provisions for your grandchildren in addition to your children, or on contingency if they should pre-decease you?
- Have your assets increased? Maybe additional protections of a trust would be better at this point.
- Do you have property in another State? If so, you could be facing estate administration in multiple States without proper planning.
- Are the persons you chose as Executors still with us or able to handle the task? Ensuring that your chosen Executors are able to serve can save problems in estate administration.
Contact us if you would like an evaluation of your current estate plan or help updating your plan.