Are you the same person you were ten years ago? Five? With any luck, you aren’t. Your estate plan shouldn’t be either.
The last thing you want to do after going through the estate process is to pretend like it’s durable for everything in life. If your marriage situation changes maybe your separation agreement took some assets out of your estate. If you’ve added children then you’ll want to account for them. If you had a falling out with your best friend maybe they’re not the best trustee for your estate plan.
The truth is that it feels really good to pull together your estate plan. It’s peace of mind and puts you ahead of most other people. What it didn’t do was account for everything in the future.
So what should you do?
Check that your beneficiaries are still people that you want to benefit.
Double check the assets in your estate plan that they’re still yours.
Check on the value of your assets – your beneficiaries will thank you.
Make sure you still like the people you trusted in all of your documents
Do this every year if you want to avoid some of the biggest problems in estate planning.
If you looked at your estate plan and noticed that something’s changed, contact me today. We will work together to make the necessary fixes in a quick and painless way. After all, a little bit of time and investment today sure does beat the cost of probate, litigation, and broken promises later.