- Things may change: If you have drafted estate planning documents many years ago, many things in your life may have changed. Your estate planning documents should express your current wishes, should properly plan for your current financial status, and should achieve your current goals for your family and assets.
- People may change: You may have drafted estate planning documents prior to getting married. Or, maybe you drafted estate planning documents when married and now are divorced. You may have children or grandchildren who have entered your life. Sadly, relatives or other loved ones may have died or left your life. Your estate planning documents should reflect the people who you currently want to provide for and protect.
- Laws may change: Your estate planning documents may not properly conform with current laws to achieve certain estate tax planning benefits or may lack language necessary to comply with asset protection for a spouse who requires long term care or a loved who is receiving government assistance.
- Trusted agents may change: Your estate planning documents name people who are responsible for carrying out your wishes if you are incapacitated or after your death. Are they still the right people for the job? It is important that your estate planning documents appoint people that you currently trust to make important financial and medical decisions for you and your estate.
- Medical conditions may change: Does a beneficiary (young or old) require long term care or have special needs that did not previously exist? Might that be the case in the foreseeable future? With proper planning and updating, your assets can be preserved and protected for beneficiaries with special needs.
If you are interested in learning more about the importance of reviewing your estate planning documents, or if you would like us to review your estate planning documents with you at no cost, please contact the office. We would be glad to meet with you for a no hassle, no charge meeting to review your documents with you.