Now is a Good Time to Make Sure Your Estate Plan is Up to Date

With the holidays in the rearview mirror, most of us, myself included, will reflect upon what has happened over the course of the year and the changes that have taken place.  (There is certainly a lot to reflect upon this year!)

As an Elder Law and Estate Planning attorney, the new year is also a time to remind (you could also say nag) my clients about the importance of keeping their plans up to date.  So I ask you to ask yourself the following questions:

  • Has anything changed in your personal, medical, or financial situation?
  • Are your legally appointed “helpers,” such as the agents named in your power of attorney and health care proxy, still willing and able to serve in their respective capacities?
  • How are your loved ones doing? Has an adult child or grandchild gotten married or divorced, started a family, fallen into debt, or otherwise experienced a dramatic change that could impact your planning goals?

Your estate plan must take changes like these into account to ensure it is up to date and capable of accomplishing your goals.  Sometimes, an outdated plan can be worse than having no plan at all.

As you reflect upon the changes that have taken place over the last year, I hope you also consider the implications of these changes for your estate plan.  As always, I am here to help in any way I can.

Until next time, take care…