Our Weekly Tip: New Year — New Estate Plan?

Out with the old, in with a new estate plan!
(credit: teenvogue)

Our Tip of the Week: Making a good estate plan means being aware of the changes happening in your life. An estate plan is certainly subject to evolve due to those changes — but you have to make sure you’re making a date to review them! The last thing you want is a mad rush to alter your post-death plans. Here’s a few suggestions about when and how to review them.

How-to Suggestion: Why not ring in the New Year with a resolution to revise your plan the week after? Mark the date on your calendar, and let relevant family members know of it (it helps to have family members motivate one another). Or, for the more practical-minded, make a date during tax time.

Review your net worth, consider new assets, family members and loved ones. Go over your documents with a fine-tooth comb, making sure that that your current wishes align with the paperwork before your eyes. Rest assured that, should you have missed anything, your new-found tradition will be there for you in the years to come, and that estate planning will no longer be a back-burner topic.

Explore other end-of-life tips through our Practical Tips column.