There are key lifetime changes which can drive the need to reconsider your estate planning documents. Changes may need to be made to beneficiary designations on your financial assets, your Last Will and Testament or Revocable trust, the manager of your financial affairs should be you become disabled under a durable general power of Attorney of who has authority to speak for you in health care matters under your Health Care Directives. There a variety of reasons to make changes and these could include:
- a change in residence, perhaps you have taken a new job or retired out of state;
- death of a spouse or parent;
- a change in your relationship status (marriage, divorce);
- the birth of child(ren);
- consideration of pets if something happened to you;
- a charitable consideration; or
- a shift in the proximity of friends or family.
Each of the above can have a profound effect on your current estate planning considerations and you should not ignore them. The lawyers at Thomas & Libowitz are uniquely situated to help guide you through the legal aspects of life changes and help you discern the effects of those changes. There is a comfort in understanding how your wishes will be implemented and how the documents you have signed really work. Our lawyers have the ability to explain complicated concepts in plain language.
You have enough to worry about and we are here if you need us. Give us a call.