As the end of the year approaches consider the changes you may need to make to your estate plan. Have you gotten married or divorced over the past year? Perhaps you’ve welcomed a new child or grandchild? Or has your health changed? So much can happen in a year, it’s important not to let too much time pass before you reflect life changes in your estate plans.
You probably already keep in regular contact with financial advisors, primary health care providers, and accountants. Right? Did you know that your estate plan will serve you best when it keeps pace with the changes that shape your life?
Make sure your estate plan remains current. Doing so is more efficient than having to overhaul the entire document later. The end of the year is the perfect time to make adjustments to items such as the individuals listed in your estate planning, fiduciaries or beneficiaries.
Your End-of-Year Checklist
Many people find estate planning overwhelming — whether that includes creating a new plan or updating an existing one. A checklist cuts through the mental clutter. It allows you to focus on the most important decisions, so you can protect yourself and your family.
Use this handy checklist to prioritize your time:
- Has your family welcomed new children or grandchildren?
- Did someone named as a fiduciary (successor trustee, agent, or health care agent) in your plan die this year?
- Did you get married?
- Has this year involved a divorce for you or fiduciaries or beneficiaries?
- Have you changed your preference about who to list as a trustee?
- Do you want to change the person listed as an agent?
- Would you like to name a different health care proxy?
- Do you want to replace the person you appointed as your children’s guardian?
Would you like to add or remove a pet caretaker?
- Has your net worth significantly changed?
- Did you changed jobs or purchase a business?
- Have you moved to a new home?
- Did you sign your will or trust before 2013?
If the answer to any of these questions is “yes,” your estate plan requires prompt attention. As we head into 2019, start your year off right by taking a few moments to prioritize. Give us a call so we can discuss.
About Skvarna Law Firm
We can help you make important estate-related decisions. Contact us today to learn about your options (909) 608-7671. We operate offices in Glendora and Upland, California. We provide legal services for individuals living in San Bernardino, Los Angeles, Orange and Riverside Counties. This includes the cities of Upland, Ontario, Rancho Cucamonga, Fontana, Colton, Rialto, Chino, Chino Hills, Glendora, Claremont, Montclair, Pomona, La Verne, San Dimas, Azusa, Covina, West Covina, Diamond Bar, Walnut, La Puente, Corona, Norco & Mira Loma. Visit SkvarnaLaw.com to learn more.
