Southwest Florida

Bored? Review Your Estate Plan

Bored couple
Tired of watching TV due to COVID-19 “stay-at-home” orders? You could do something productive, such as reviewing your estate plan. 🙂

Many of you reading this are sitting at home with time on your hands. You can only watch so much Netflix, so perhaps now is a good time to dig your estate planning documents out of the drawer or safe and read them.

As this recent article points out, estate plans – like any other plan – should be reviewed periodically. Will your documents do what you think they’re supposed to do? Are they just a bunch of random documents or part of an overall plan? Are the right people in the right roles?

Are you and everyone involved in your plan in the same exact family, financial, and health situations you all were when your plan was created? Are you in the same state? Your estate plan should comply with your state of residence’s laws, not another state’s laws.

As I tell my clients, an estate plan is not a bucket list item – you can’t just create a plan and then cross it off the list. It’s a process that will provide what’s needed to guide your loved ones when you’re no longer able to help them.

So, take a good look at your current estate plan and its associated documents now. If anything needs work, contact a local estate planning or elder law attorney. Most of us can meet with you virtually via phone or Zoom video conferencing and make safe arrangements for executing documents. This is one thing that doesn’t need to wait until the world returns to normal.

And then review them every 3-5 years, or when you or your family members experience major life events. Remember, you’re not doing this for you…you’re doing it for them.

Other articles you may find interesting:

Can Multi-Generational Living Arrangements Work for Families?

Blended Families Need More Thoughtful Estate Plans

***Want to learn more about how to protect your family from the government, lawsuits, accidental disinheritance, or nursing homes? Click THIS LINK to book a seat at one of our upcoming fun and educational workshops.***

You wonder whether your granddaughter will think of you fondly when you’re not around anymore.

You want to make sure someone will love and care for your dog, horse, or parrot when you can’t.

Your spouse doesn’t share your love for guns, and you fear your collection could be sold for almost nothing – or even destroyed – instead of being passed on to your children or others who share your passion.

Contact us today. We can help.