If you are starting to think about resolutions for the new year, do not forget to include a review of your estate plan. The previous 12 months may have brought about changes that need to be addressed in your will, insurance policies, and other important documents in your estate plan.
Resolutions | Estate Lawyer in Cary NC
Make an appointment with your attorney to review your estate plan to ensure that you ring in the New Year knowing everything is in order. If you do not have an estate lawyer in Cary NC, call us at Klish and Eldreth. We can help update or create your estate plan.
Here a few things you do not want to overlook as you review your estate plan:
Major life changes.
Did you get married or divorced? Update your will, insurance policies and retirement accounts to reflect the change in your beneficiary, unless you want your former spouse to inherit your assets. Even if you change it in your will, your policies and accounts should also be changed because they can override what your will designates.
If you had or adopted a child, you will probably want to change your estate plan to include the new addition so he or she will be cared for if you pass away.
If you have a child who has reached age 18, and who is listed as a beneficiary, you may need to update your designations to show that he or she is able to receive assets now that he or she is of legal age.
If you named someone who died or has become ill in the previous year as an heir or gave them power of attorney, you will need to update your plans with a new person who is able to carry out the duties.
Sometimes people leave money to organizations they support. If you are no longer involved with them, you may want to update your will to reflect it.
It is also wise to check for any changes in state law that may affect your plans and how your assets are distributed. There could be tax laws that change your distribution plans.
Our estate lawyer in Cary NC at Klish and Eldreth is ready to help you with your New Year’s estate planning resolutions. Give them a call today.
Klish and Eldreth
Remember, 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 estate lawyer 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 office.
As always, feel free to contact us at our office to schedule a consultation with if you are looking for a lawyer to represent you in other legal matters. We are here to assist you with small business needs, trademarking, copyrighting and DWI issues.