Each year, we go over things to do at the beginning and end of the year. Below, we will recap some information that we've previously shared in hopes that it helps you prepare for your estate planning in 2017. If you have questions, contact our estate planning attorney in Cary NC.
Things to do in 2017 | Estate Planning Attorney in Cary NC
- Buying and selling of major assets. Did you purchase or sell a home this year? How about open or close a business? These things must be documented in your estate plan as soon as the major asset change happens to ensure that they’ll be distributed properly should you pass.
- Pension plans and new insurance policies. Changing insurance companies or policies should be noted in your estate plan as soon as the change occurs. If you neglected to do so, be sure to get it updated, soon. In addition, pension plans should be added, as well. It’s possible that you’ve reached the age or will reach the age where you take distributions from your pension plan. That too, must be documented in your estate plan.
- State of residence change. Are you considering moving to a new state in 2017? Did you move to a new state in 2016? Moving to a new state can invalidate your estate plan as soon as you change your permanent address. Make sure you update your estate plan to reflect these changes as soon as you’re settled into your new location.
- Changing tax laws. With laws change every day, it’s important to make sure your estate plan reflects any and all tax law changes that might affect your overall estate distribution.
Working with an estate planning attorney in Cary NC can help you better understand this situation. Contact us to learn more.
You can work with an estate planning attorney in Cary NC to plan and to have someone appointed to take care of your estate when the time comes. This can ensure that you are protected and that you wishes will be carried out even when you are no longer able to express them. If you're ready to start planning today, contact our estate planning attorney in Cary NC. We are here to help you.
Visit other blogs in this series, below: