It’s easy to get caught up in the whirlwind of planning through Thanksgiving and other holidays while missing out on the opportunity to update your estate plan.
If one of your New Year’s resolutions isn’t to analyze your current estate planning documents and strategies, consider adding that to the list or accomplishing this goal before 2019 is over.
As we prepare for another year to begin, this is a good opportunity to look back at your financial and legal documents to ensure that you still agree with what has been explained in writing.
Looking at your power of attorney, your living will, your living trust, and your last will and testament can also be accomplished by scheduling a sit down meeting or a phone meeting with your Massachusetts estate planning attorney.
Keeping a folder with all your documents makes it simple to review these materials on an annual basis.
Some of the questions to ask yourself before preparing for this meeting include:
- Are you content with the way that your estate will be distributed currently?
- Did you recently get married or have children?
- Do you need to update any person related information, such as successor trustees, beneficiaries or heirs?
- Have you had any significant changes to your health?
- Do you have upcoming financial transactions that might prompt you to update your power of attorney?
Sitting down with a lawyer gives you the opportunity to create personalized updates to your estate plan based on where you’re headed.
