Saturday, December 26, 2015
With the new year approaching now is a good time to review and update important estate planning documents. Make sure to assess any changes that have happened since the last time the estate plan was updated. People should review any will or revocable trust that they have created. The names of the people that are designated to become executors or trustees need to be kept updated as well. Beneficiaries also need to be clearly identified so that there are no problems with the distribution of assets, these beneficiaries also need to be listed on insurance plans. A person will want to review their power of attorney documents to make sure they are kept current. This is important for both the financial and health care power of attorney.
See Linsey Glosier and Doug Stanley, Your Estate Planning New Year’s Resolution Checklist, Bryan Cave, December 25, 2015.