Has it been ten years since you updated your estate planning documents? Its time to get a move on. Update them.
Your family situation has changed. Your fiduciaries and beneficiaries are ten years older. Some of them may have even lost capacity to serve as your fiduciary.
Besides people in your life, the laws have also changed. Do you know how the recent estate law changes affect you and your wishes? Find out now. It won’t get easier with time.
Fidelity has posted ten pitfalls to be careful of when reviewing and updating your plans and documents.
Some things to consider; Have you moved to another state? Have you discussed your plans with your fiduciaries and beneficiaries? Have you named a charity a beneficiary? Do you know when HIPAA rights should be waved? Does anyone else know your email password? There are several other things to consider. So, what are you waiting for?
If you begin working on this now, you’ll have lots of new things to talk about over Thanksgiving dinner. Won’t that be fun?
Take care, Dan