A will is one of several estate planning documents that require periodic review. Significant life events such as marriage, the birth or adoption of a child, a big move, a new job, and retirement all trigger the need for updates. The checklist below will help you remember to contact your attorney and discuss changes as necessary.
Your Will Drafting & Estate Planning Checklist
Your will should name a current personal representative to carry out your wishes, as well as an alternate in case the primary individual cannot or chooses not to serve when the time comes. If you have minor children you did not when you first wrote your will, it’s crucial to name a guardian should you predecease them. Also, confirm your beneficiaries and property holdings are valid.
2. Durable Powers of Attorney
Verify the names and relationships of the primary and alternate agents you designated to make your health care decisions should you become unable to make them. Do the same for your financial decisions document.
3. Trust Documents
Make sure your revocable trust accurately describes your wishes regarding the division and distribution of assets among your beneficiaries. Check the distribution timing and whether your beneficiaries are of an age to receive outright control of their inheritance. If you want to have the trustee manage it until a later age, state the age or date when the trustee is to release control.
4. General Matters
Confirm that assets such as financial accounts and life insurance policies have current beneficiaries. Then, review and update all contact information for everyone named in all your estate planning documents. You should also ask your attorney about legislative changes that might affect your estate plan.
Attorneys at The Law Offices of Bromm, Lindahl, Freeman-Caddy & Lausterer have a 125-year track record of legal service to residents of Wahoo, NE, and the surrounding area. Members of the community trust them when they need advice and representation for wills, estate planning, and probate help. Visit the law office’s website to learn more about their areas of practice. To make an appointment for your confidential consultation, call (402) 443-3225 today.