Hello and welcome back! 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. If you missed our last posts, visit them below:
Today, our estate attorney in Raleigh NC is here to continue the discussion and offer a few more tips that will help you when you start updating your estate plan for 2015.
Estate Attorney Raleigh NC: Updating Your Estate Plan for 2015
Protecting Property For Children
It’s important to name an adult you trust to manage property or money you may leave your minor children. This person could be the same personan you leave as your child’s guardian, in which, you’ve named in your will. If you’ve already named someone to manage their inheritance until they’re of age, make sure there haven’t been any changes with that person. Declining health, marriage, or other significant changes to their lives should be documented into your plan.
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.
Keeping your estate plan up-to-date with changes is important. Meeting with your estate attorney in Raleigh NC quarterly, semi-annually, or at least annually might be a good idea. That way, you can ensure that all changes are updated and documented properly, in the event that you have an untimely incapacitation or death.
In our next post, Eldreth Law Firm, PLLC, estate attorney in Raleigh NC will continue discussing estate planning and how you should consider it a priority, every New Year, to revisit your current plan and update it as necessary.
As always, feel free to contact us with any questions or concerns you may have about estate planning. Also contact us to schedule a consultation if you are looking for a new estate attorney in Raleigh NC. We are here to help you with all your legal matters, whether it be estate planning in Raleigh NC, trademarking, copyrighting, or DWI issues.
