Need To Review / Update Your Will? Reasons to give your estate plan another look.
Just as your life changes from year to year, your estate planning options should be just as dynamic. Many people draft a will, and then it is put away for safe-keeping and not a thought is applied to it for years.
While one of the purposes of estate planning is to create security and peace of mind, life changes may mean that you also need to take another look at your estate plan.
Some examples of changes that should trigger a new look at your estate plan include:
1. The birth or adoption of children.
2. The birth or adoption of grandchildren.
3. Changes in your financial situation.
4. The death of your personal representative.
5. The death of your spouse or child.
8. Your children are grown.
9. You have sold or acquired property.
10. Life insurance updates.
11. Any other matters in your life that will affect your Will.
In addition, unless Congress acts otherwise, the estate tax phase-out will expire in 2011, causing estate tax rates to revert to 2001-2003 levels. If your estate plan was drafted in the last decade, you should confer with us to see if it needs to be updated to comply with these older provisions.
Dan will take a look at your plan and give you experienced and competent advice on how best to continue planning for the future. Call today for your appointment.