At a minimum, take a look at your estate plan annually. This helps you to do a quick review and to verify that the most basic of information is up to date in case something happens to you. Too many people find that failing to update their plan leaves asset transfer plans or person appointments in place that the estate creator does not want.
Your life may have changed significantly over the past year, or it may feel largely the same. But nonetheless, the New Year is an ideal opportunity to review your existing estate plan. You may need to update your documents such as your will.
There are many different reasons that may prompt you to update your estate plan, but if you have experienced major changes in the last year, such as the birth or death of beneficiaries, a marriage, a divorce or the adoption or birth of any children, it is especially important to contact an attorney to help you. It is crucial to work with a lawyer to ensure that you update documents in a legally valid manner or revoke the previous documents and create new ones as needed.
Make sure to reach out to an estate planning attorney in your region if you need assistance with changing any one or more of the following appointments:
- Health care proxy
- Financial power of attorney agent
- Pet caregiver
- Guardian of any minor children
- Personal representative or executor of your estate
- Beneficiaries of assets or property
- End of life decisions
For further assistance work directly with an estate planning attorney who has an understanding and an appreciation of your individual wishes. Documenting these things now will minimize the possibility of conflicts or confusion in the future and ensure a smooth transition of assets when you pass away.
Work with our Pasadena estate lawyers to document your own estate plan now.