Spring cleaning isn’t just for housekeeping, it’s also an excellent time to review your important Estate Planning documents like your Wills, Trusts, and Powers of Attorney. How long has it been since you’ve updated your estate planning documents? Do they still reflect your wishes?
Here are 5 common reasons to make updates to your Estate Plan:
Milestone life changes
Have you had a big change in your family life? Changes in marital status or the loss of a spouse or family member could require you to make changes to your documents.
Changes to your health
Have you become injured or ill? This might make you consider making some important changes to your documents. Without a proper Healthcare Power of Attorney, you might not get the treatment that best reflects your wishes.
Changes to your assets
Have there been changes to your income or assets? Selling a home, starting a new business, or making an investment might need to be reflected in your estate planning documents.
Changes to your beneficiaries
Time changes everything! Is it time to update your beneficiaries on your Will, Trust, or designations on your financial accounts? Make sure the beneficiaries you have named still best reflect your wishes.
Have you considered your beloved pets?
If you love your pets as much as we love ours, you might want to make sure they are protected in your Estate Planning documents. For example, it might be time to make a Pet Trust.
Once you’ve done your spring cleaning don’t forget to properly save and store your documents in a safe and easy-to-access location.
Don’t sweep your outdated Estate Plan under the rug!
Let us help you tidy up your Estate Plan to protect you and your loved one’s legacy today! Give us a call at (207)848-5600 to schedule an appointment/consultation or check out our CONTACT page for more ways to reach us.
