As the end of the year approaches and you begin to look back on 2018, what changes need to be reflected in your estate plan? Were you married or divorced in the past year? Perhaps you have welcomed a new child or grandchild or experienced a change in your health. So much can change in a year, and it is important not to let too much time pass before those changes are reflected in your plan.
The same as staying in regular contact with financial advisors, primary health care providers, and accountants, your estate plan will serve you best when it is kept up to date with the changes that shape your life.
Keeping your estate plan current with each significant development in your life is much more efficient than having to do a comprehensive overhaul later on. The end of the year is the perfect time to take stock of any changes regarding the individuals listed in your estate planning (fiduciaries or beneficiaries) in case adjustments are required.
Many people find estate planning — whether it is embarking on creating a new plan or updating an existing one — can feel overwhelming. A checklist cuts through the mental clutter and allows you to focus on the most important decisions to protect yourself and your family.
Use this handy checklist to prioritize your time.
If the answer to any of these questions is “yes,” your estate plan requires attention soon. As we head into 2019, start your year off on the right foot by taking a few moments to see what projects you should prioritize. Contact us so we can discuss.
