How Frequently Should You Review Your Estate Plan?
What if your inability planning documents are old and don’t consist of the appropriate HIPAA language. In case you become handicapped, your liked ones may have to wind up litigating to get the right to make decisions on your behalf. And this is the really thing that an incapacity plan is indicated to prevent.
Failure to update your documents when the law modifications can mean that properties intended for your household go to Uncle Sam instead.
So, how do you keep your estate plan updated?
You must get in the routine of examining it on a routine basis, every year if possible. When you look over your estate plan, you need to think about any life changes you’ve experienced recently, like a marital relationship or divorce, the birth of a child, or even moving to a new state. When change happens, examine with your estate planning attorney and take the suggested action.
What about changes in the law?