Granville, Ohio
230 E Broadway Suite 100
Granville, OH 43023
740-587-2637

3 Reasons to Revise Your Estate Planning Documents September 27, 2017

Granville, Licking
3 Reasons to Revise Your Estate Planning Documents, Granville, Ohio

If your estate planning file has been sitting in a drawer for years, the documents may not reflect your life accurately. While many people believe they only need to draft these legal notices once, the conditions need to be checked each year to make sure they meet your needs. Below, the lawyers from Vernau Law, LLC in Granville, OH, provide three situations that call for new estate planning documents.

3 Reasons to Update Your Estate Plan

1. Changes in Family Status

estate planning Granville OHWhether you’re welcoming a newborn or going through a divorce, all family changes require updates to your estate planning documents. Births, deaths, and marriages are especially important to account for, as they have an impact on inheritance and important legal roles like power of attorney, appointed guardians, and estate trustees or executors.

2. Retirement

Retirement might not impact your estate plan immediately, but it will when you start making mandatory withdrawals from an IRA. Taking money out of this account changes the assets you have on hand, so your planning documents need to be amended accordingly.

3. Health Issues

If you or a family member requires long-term or specialized health care services, your estate plan needs to reflect that. Revising the documents gives you the opportunity to express your wishes regarding daily care and life-saving procedures. You should also develop a plan in case a child, spouse, or other family caregiver predeceases you.

Updating your estate planning documents requires a great deal of consideration. Working with an experienced lawyer ensures you will address important issues before they arise, so you are prepared for whatever the future holds. The team at Vernau Law, LLC assists with this process, so your loved ones are protected. To schedule a consultation, call the law office today at (740) 587-2637. Visit the firm online to learn more about their estate planning and probate services.

Other Announcements, Events and Deals from Vernau Law LLC
3 Tips to Avoid Will Disputes During Probate, Granville, Ohio
Being the executor of a loved one’s estate is a major responsibility. The probate process can take six months to a year, and during that time, some disputes may arise to cause furthe...read more
What Newlyweds Should Know About Estate Planning, Granville, Ohio
When couples are in the midst of newlywed bliss, they likely aren’t thinking about their financial future. However, estate planning attorneys recommend taking the time now to begin c...read more
Spring Break 2020 & Ohio's Closure of Schools Due to Coronavirus, Granville, Ohio
We have received many calls from clients regarding how Governor DeWine’s recent announcement to close Ohio schools for 3 weeks affects existing court orders for Spring Break parentin...read more
3 Common Estate Planning Misconceptions, Granville, Ohio
Preparing for the future provides peace of mind and helps ensure your wishes will be honored upon incapacitation or death. However, misinformation about estate planning and its vario...read more
What Is the Difference Between Financial and Medical Power of Attorney?, Granville, Ohio
Everyone should think about who they’d like to handle their affairs if they become incapacitated. There are several different legal ways to designate an agent, two of which are medic...read more