What is the State of your Estate Plan?

Mature couple doing some paperwork and calculations at home

What is it about spring that always motivates us to get organized around the house? Getting your financial household in order is equally as important.

It is a good time to create or update your estate plan. That includes such essentials as a will or trust, a living will, durable powers of attorney, a letter of intent and beneficiary forms.

We know it is easy to put it off. It may not seem like an urgent need, but you never know what the future brings – and there is a lot at stake, such as the financial well-being of your loved ones.

Things to consider:

  • The beneficiary designations for any retirement accounts, annuities and life insurance policies supersede what is in your will – so it is extra important to keep them up to date.
  • Include alternative estate representatives and beneficiaries for contingency planning.
  • Include the location of your assets, i.e., do not overlook properties in other states.
  • Include care instructions for your beloved pets.
  • Include your digital assets – you can create a digital asset trust that includes everything from cryptocurrencies to accounts on eBay, Paypal, loyalty reward programs and social media sites.
  • Include medical directives.

We can help you get organized and work with you and your estate attorney to make any necessary revisions.  Feel free to use our Legacy Packet found under the Resources section of our website. If you need a referral to an estate planning attorney, please let us know.