Do Your Document’s Need A Makeover?

In my day to day practice I’ve see one issue come up often:  outdated documents.  Some of the documents are just a little out of date, others are museum pieces.  Even though these documents are drafted with skill and contemplate events far into the future, they often are in need of serious updating.  Many plan once and then go into “estate planning hibernation.”  In this Rip Van Winkle like state, they remain for twenty or thirty years as their world changes.  A lot can change in twenty years, or even in a minute. 

A Will that is out of date may not be any better than having no Will at all.  A Will that was executed twenty years ago probably needs to be updated; people have been born, some have died, some grew up to be great people, others grew up to be not such great people.  There have been divorces and remarriages.  All of these things change the way you plan your estate. 

Your estate plan should be reviewed every few years, and more often after the happening of certain events.  Your plan should be reviewed upon birth, death and adoption of a child, a marriage or divorce, tax changes, the death of someone named in your current Will/Trust, changes in income/wealth, and any other major life change. 

Consider giving yourself an annual estate planning checkup.  You do not even need to meet with your lawyer for this exercise.  Once a year take out your estate planning documents and your life insurance policies and other important documents and read through them.  Give yourself an estate plan self-exam.  Make sure that your plan conforms to your wishes, if it doesn’t, do what is necessary to make the changes you desire.  Check your beneficiary designations on your life insurance policies- Are they correct?  Make sure that the proper people are listed as beneficiaries.  Often, ex-husbands and ex-wives are listed as beneficiaries of life insurance policies because they were never removed after a divorce. 

There are many things people can do without an attorney to make sure they have the best possible plan in place.  If you’re interested in learning more about non-legal solutions to common estate planning problems, my office is hosting a workshop on this topic on September 16.  Please call 203-234-7400 or email us at info@guertinlaw.net to reserve your seat.

Non Legal Solutions…. Wha Wha What?

Non Legal Solutions to Common Estate Planning Problems

 

Presented by:

Guertin and Guertin, LLC

(Two guys who have seen lots of “bad stuff” happen to good people.)

 

Join Attorneys Marc and George Guertin to discuss what you can do without a lawyer to protect their loved ones, their estate and plan for the future.

 

September 16, 2010

2pm & 6pm

Please call 203-234-7400 or email info@guertinlaw.net to reserve your place as seating is limited.