More Estate Planning Resolutions for the New Year

Welcome back. We are here to share more estate planning resolutions you might want to consider making this upcoming new year.

Resolutions for 2017 | Estate Planning in Raleigh NC

Be sure to visit back with our previous blog for more information about estate planning in Raleigh NC and resolutions you can make before moving on.
Changes in your assets.
If you made a large purchase or sale that affects the amount of your assets and how they can be distributed, you will need to update your records to reflect it. For instance, if you purchased a business with someone, you will need to make arrangements to ensure that your part of the business does not go to your partner upon your death if you want to leave it to a family member.
If you added policies, such as life insurance or retirement accounts, check to make sure you have beneficiaries listed and that they are able to receive the benefits.
If you have a pension plan that requires you to take benefits at a certain age, and you are reaching that age, you may need to make adjustments to your estate plan to show the reduced amount.
Changes in state laws.
Your estate plan is subject to the laws in your state. If you have moved, you will need to make sure that your plan is valid in your current state. You can meet with a lawyer who has experience in estate planning to review your plan to ensure it meets state guidelines.
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.

Eldreth and Eldreth | Estate Planning in Raleigh NC

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.

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