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Keep Your Estate Plan Updated

On Behalf of | May 19, 2020 | Firm News

As more than 90,000 people have unexpectedly passed away in the past couple of months in the United States, many of us have the risk of fatal illness on our minds. What will happen to your family and property if you pass away suddenly?

 

Having an estate plan is a good start to planning for the interests of your loved ones, though is your estate plan up to date? Many events – or simply the passage of time – can render certain parts of your estate plan irrelevant or non-reflective of your wishes. It is important to schedule a meeting with an estate planning lawyer in Greensboro about any necessary changes that might be in order.

Life Events

Many life events might create the need for an update to your estate plan. These might include marriage, divorce, the birth of a child, a financial windfall, and more. Some documents you might want to update include:

  • Beneficiary accounts
  • Powers of attorney
  • Last will and testament
  • Revocable living trust

Many of these documents involve selecting trusted loved ones to play roles such as your power of attorney, successor trustee, life insurance beneficiary, or executor of your will. If you get married or divorced, there is a good chance these designations might change.

Passage of Time

Even if you did not experience major life events, time can bring many changes to our relationships, property and assets, values, and goals. It is wise to take the time to review your estate plan and make changes that reflect your changing circumstances.

Contact an Estate Planning Lawyer in Greensboro for Assistance

If you would like to update an estate plan or you need to start from scratch, contact a Greensboro estate planning attorney at the EJ Boswell Law Office. Call 706-454-0032 or contact us online for a consultation about how we can assist you.