When Should I Change My Estate Plan?
Feb. 24, 2022
As time goes on, our lives change. We get married, have kids, buy a new home, and so on. It's important to keep your estate plan updated to reflect these changes. If something happens and your will is outdated, it could cause major problems for your loved ones. In this article, we will discuss when you should update your estate plan and how to go about doing it.
When to Update Your Estate Plan
There's no set time frame for when you should update your estate plan. It depends on your personal circumstances.
But there are a few things to keep in mind:
If you get married or divorced, update your will immediately.
If you have kids, update your will when they turn 18.
If you move to a new state, update your will.
If you get a new job with different benefits, update your estate plan.
If you make any major changes to your financial situation, update your estate plan.
How to Update Your Estate Plan
Updating your estate plan is not as difficult as you might think. Here are a few tips:
Talk to your estate planning attorney. They will be able to help you make the necessary changes and ensure that everything is in order.
Review your current will and identify any changes that need to be made.
Make a list of all your assets and update your beneficiary designations.
Update your power of attorney, healthcare proxy, and living will if necessary.
Contact My Office to Update Your Estate Plan
It’s important to keep your estate plan updated as life changes. If you need to make any changes, Please contact us today Click here to Schedule a FREE Virtual Estate Planning Session.
PARENTING TIP:
Foster a Love of Reading. Reading is an important skill for kids to learn. It helps them succeed in school, opens up new opportunities, and gives children a sense of adventure. To foster a love of reading in your children, read together as a family every night before bedtime. You can also take your children to the library so they can find new books to read. This will encourage them to read about things that interest them and develop their curiosity.