Thursday, May 9, 2013
Updating Estate Planning Documents
Often people will draft their documents and then forget about them, but this can be a bad idea and wreak havoc on your health and your family's wealth.
Recently a Consumer Reports survey indicated the 86% of respondents who had wills or other estate documents had not updated them within the past five years. As circumstances change throughout the course of a lifetime, your documents should be updated accordingly. The Wall Street Journal lists the following key documents to evaluate for updates:
- Health-care directives
- Financial power of attorney
See Elizabeth O'Brien, Make Your Heirs Happy: Update Your Will, The Wall Street Journal, May 8, 2013.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.