Do I Need an Estate Plan Checkup?

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You should prioritize an estate plan checkup.

Many people understand the importance of scheduling regular medical checkups.

They know time impacts their general health and wellness in minor and major ways.

Finding health problems sooner rather than later almost always leads to better outcomes.

According to a recent Pittsburgh Post-Gazette article titled “Time for a non-medical checkup? Review your will,” an estate plan checkup is also essential when it comes protecting yourself and your loved ones.

An estate plan checkup keeps your finances and family secure.
An estate plan checkup can ensure your plan meets your current needs.

Between your annual physical exam, you likely schedule an appointment with your doctor when you notice something different.

Similarly, you should schedule an estate plan checkup after significant life changes.

Has one of your heirs or beneficiaries died or become estranged from you since you created your estate plan?

Have new heirs entered your life through marriage, birth or adoption?

You also should reassess your executor in your estate plan checkup.

Is your executor for your estate still alive and up to it?

Does this person still live close enough to manage the responsibility when you die?

If your children have become adults, you may want to reconsider how you divide their inheritances?

Do you trust your children to make wise choices with an inheritance when they are young adults?

You may want to include a trust to provide greater control in distributions of assets.

If you or your children have married or divorced, you should certainly review your estate plan.

Schedule an estate plan checkup with an experienced estate planning attorney to ensure your affairs are in order.

Reference: Pittsburgh Post-Gazette (July 27, 2020) “Time for a non-medical checkup? Review your will”

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