Tip: Review Your Estate Plan at Spring Forward

Each time you move your clocks forward, take a look at your Estate Plan and make sure that it’s up to date and includes the right information.

  • Personal representatives and executors – Is this person still alive? Do you still talk? Do you still trust this person to handle your stuff?
  • Beneficiaries – Did you have any children who aren’t listed in your Will or Trust? Have any of your beneficiaries passed away? Do you still want each beneficiary named to receive something from your estate?
  • Distribution of your stuff – Do you have everything split evenly between your beneficiaries? Is that still how you want it? Did you want to change how your money is allocated? Has a child been taking care of you? Has a child when taking advantage of you? Do you want to make any changes, such as deductions for early inheritances (i.e. paying of a child’s debts)?
  • Health care decisions – Is your health care representative still a person you trust to make medical decisions for you? Have you changed your mind on end of life treatment? Do you need to include a newly discovered technology to your living will (i.e. include supplemental nutritional support? pain management?)
  • Attorney in Fact – Do you have someone who can make financial decisions for you if you can’t? If so, do you still trust and talk to the person you named? Do you need to grant additional powers (i.e. you’ve purchased rental properties, acquired businesses, increased investments, etc.)?