Estate Planning Updates for the New Year, Part Three

Are you thinking about planning ahead for 2017? With it right around the corner, our lawyer in Raleigh NC understands why. Our last two blog posts featured information on the importance of updating and changing your estate plan and the documents included, during the New Year. It's important to do this so that you will be able to properly reflect any and all asset changes, beneficiary changes, and more.

Making Changes | Lawyer in Raleigh NC

The beginning of 2017 will be a great time to get started with documenting any changes that might have happened in 2016. It's important to make sure you've incorporated any and all important documents in your estate plan, as you never know what may happen.

Should you pass suddenly, without a proper, updated estate plan, your assets might not go to the right beneficiary, your children might be left without a guardian, and more.

Changes to Estate Planning | Laywer Raleigh NC

  • Children - Did you welcome a new child into your family either through birth or adoption in 2014? Did any of your children give birth or adopt children in 2014? If so, this should be included in your estate plan. Also, naming a guardian for your children in case of an unexpected death is imperative. You want to make sure you’re in charge of making the decision of choosing the right guardian for your children.
  • Beneficiary Forms - You’ve probably already named a beneficiary for all bank accounts, retirement, and other financial accounts, but it’s important to look back and make sure those beneficiaries are still the ones you’d like named. Have they married or divorced recently? Did they have a child in 2014 or will have a child in 2015? If so, these things should be documented. Your beneficiary will gain access to funds immediately, with no probate process, once you pass. It’s important to keep beneficiary forms updated with proper information.

We hope this information helps you get started with planning for the New Year. If you need to meet with our lawyer in Raleigh NC about estate planning, contact us.

If you don’t have an estate plan in place or haven’t reviewed yours in several years, now might be the best time to start. Our lawyer in Raleigh NC is here to help you get your estate planning in order and ready should you pass in an untimely manner or become incapacitated at some point. It’s better to be safe than sorry when it comes to an estate plan. Contact our lawyer to get started estate planning, today.

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