Updating Your Estate Plan
Estate planning is not something people come running to their attorneys to establish. Often it is put off until the last minute, leaving beneficiaries and descendants to squabble about hastily made decisions. The attorneys at Yardley Law understand how daunting planning your estate can be and why most people put it off for so long. Thinking about what will happen to your estate once you’re gone is very important, and should be revisited at least yearly to account for change.
Here are a few reasons why you should revisit your estate plan every year:
Newly acquired property including land, any structures on the land, and any mineral or water rights all need to be included in your estate plan and updated yearly. You don’t want to overlook the retirement property you worked your life to buy and build just because you are nervous about heading back to the attorney.
Changing relationships with beneficiaries is certainly a condition that should be revisited at least yearly. Should you and your spouse divorce, beneficiaries pass away or come into this world, or your convictions to a certain charity change, each change should all be reflected in your estate plan.
There are many things that can change over the course of a year. If you want to make sure your wishes are expressed in your estate, don’t be nervous to talk about them with the attorneys at Yardley Law. We understand how difficult and important these decisions can be and can help you see your wishes through.