Keeping your estate plan up to date is an important part of overall estate planning. Things change over time. People get divorced, children move away, laws and taxes change. To ensure that your estate plan remains valid and updated, it’s important to meet with a lawyer in Raleigh NC. Below, you’ll find important parts of your estate plan that need to remain up to date.
Lawyer in Raleigh NC: Update Your Estate Plan
Update basic estate planning documents: According to estateplanning.com, “If you have not revised your estate plan in more than five years, then you should have someone look at your current estate plan to make sure it still reflects your wishes and can accommodate present uncertainties with flexability. Consult an estate planning lawyer to discuss whether your current estate plan needs some arrangements.”
Prepare a healthcare POA and a Living Will: Despite your present age or health it is imperative that you arrange for the possibility of becoming physically or mentally incapacitated. To prepare for this prospect, it’s a good idea to select someone as a health care power of attorney. Additionally, it is also important to consider hiring an estate attorney to create your living will. This living will may assist doctors in following your wishes concerning extraordinary life prolonging measures.
Prepare a Durable POA: Depending on your circumstances, it may be important to consider drafting a Durable Power of Attorney. By creating such a document, you may allow another person to manage your finances and other day-to-day tasks. This becomes extremely important if, for whatever, reason, you become incapacitated or incompetent. If you become incapacitate or incompetent and do not have a Durable Power of Attorney, your loved ones may encounter multiple obstacles in protecting your interests.
Chose a guardian for minors or children that are special needs: Even if you are married, it may be important to choose someone to take care of your children should you pass away before they become adults. Otherwise, a court might end up making this decision without your input. To set up a guardian in your will, contact our lawyer in Raleigh NC at the law office of Eldreth and Eldreth.
Our lawyer in Raleigh NC can review your current estate plan to make sure that your intention has not been disturbed by situations that might occur after the creation of your estate plan. New laws or immediate conditions can easily cause, at least part of your estate plan to become invalid. Contact Eldreth Law Firm, PC, estate lawyers at law, for help updating your estate plan before it’s too late.