PROTECTION is the simple answer.
Estate Planning SPF (Strategic Protection for your Family)
Memorial Day is the official kick-off to summer and we are all filled with excitement about making our summer adventure plans. Protecting your family’s future is more important than preventing a nasty sunburn. Whether you will be boarding a plane or driving long distances, you are probably making a checklist of items to complete before you leave. Making sure your estate plan up-to-date can allow you to travel with peace of mind.
Need help deciding what to review? Here’s a checklist to make sure that your estate plan is in order:
Estate Planning Documents – Is your will or trust up-to-date? Statistics show that people update their wills every ten to fifteen years. It is a good idea to review your estate plan every year or so to make sure it remains current with your wishes. Major life changes, changes in guardians, personal representatives, or trustees always warrant an update to your estate plan.
Is your trust funded correctly and up-to-date? Make sure that your house is titled in your trust. Often times after a refinance, your home is no longer title in the trust which can cause issues for your family. If you have acquired other assets, confirm that they are titled correctly.
Do you have children under the age of eighteen? Naming a guardian to physically take care of children in the event that something happens to you is vital. An estate plan that has been tailored to your needs will address that issue.
Durable Power of Attorney – Will the right people be in charge if something happens? Relationships change over time, and people that made sense ten years ago, may not be the right fit now.
Advanced Directives – Living Will and Health Care Power of Attorney Will the right people be making decisions for you in case of a serious accident or injury? Changes in Advanced Health Care Directives over the past five to ten years have changed significantly. If yours is out of date, it is important that it be updated so that your choices are respected in case of accident or injury.
All Documents – Are your documents easy to find and organized? Make sure that your documents such as estate planning, account information, retirement policies, children’s birth certificates, mortgage papers and insurance papers are in one accessible place in case something does happen while you are away.
Still have questions about protecting your family? Call the Estate Planning team at Evans Case today. Our team of experienced Estate Planning Attorneys and Probate Lawyers can answer questions, review your estate plan and help you with the Estate Planning SPF this Summer!