Spring Clean Your Estate Plan

Winter has at last loosed its grip and the days are getting warmer and longer, the birds are singing, people are getting out and about . . . and we, naturally, start to think about sprucing things up and doing our spring cleaning.  Have you thought about “spring cleaning” your estate planning documents every now and then?  It’s a good idea to review them periodically to be sure they are in order and to see if there are any changes that need to be made.  The following suggestions may provide peace of mind for you and your family as you venture into a delightful summer!

Update Your Will–This should be done every 3-5 years and after big life changes such as marriage, death, divorce, birth, adoption, inheritance or a move to another state.

Name a Power of Attorney–Assign someone to handle your financial affairs in the event you are unable to do so yourself.

Choose an Executor or Trustee–Name someone you trust and who is experienced to act.  This may be a loved one and/or an experienced financial institution

Create a Living Will–A living will makes your wishes known regarding extraordinary measures for keeping you alive.  Be sure to inform your family members of your wishes in advance.

Monitor Your Investments–Learn more about investments and how yours are working for you.  After all, they are your future!

Consider Being Charitable–Identify and investigate charities you may want to contribute to.  Some advantages to lifetime charity are that you are able to choose how your gifts are used and you may have the opportunity to see the results of your generosity.  As well, you may benefit from a charitable income tax deduction.

Please follow and like us:
Post Tagged with , , , ,

You must be logged in to post a comment.

Enjoy this blog? Please spread the word :)