Once you have taken the very important step of getting estate planning documents (your will, healthcare documents, powers of attorney, any trusts, living trusts etc.) you just have to do one more thing….
Keep Them Up-to-Date.
We cannot stress enough how important it is for you to have estate planning documents to protect yourself and your loved ones before the inevitable (your death) happens.
But equally important is the fact that once you have these documents in place, you should not just forget about them. When life’s major events occur— births, deaths, divorce, acquisitions of homes/property etc.—it is necessary for you to update your estate planning documents.
Why?
Because certain events, like divorce or someone’s death, can completely change the effect of your will or your overall estate plan. For example, if you have a simple will in which you leave everything at your death to your spouse, and then you get divorced, you are going to want to update your will. Or, if someone you left a bequest to dies, if you do not update you will to leave that bequest to someone else, when you die, that bequest will fail or be void.
Problems with outdated estate planning documents, like a power of attorney that is never updated after the named attorney-in-fact dies, can cost your beneficiaries a lot of time, money, and headaches to try to fix.
Your life, your legacy, your estate and your loved ones are all too important to be ignored.
Talk to an Estate Planning Attorney!
If you have questions or need help putting an estate plan in place or updating the one you have, call us. We offer creative, affordable Will packages through our Legacy Estate Planning process. We have offices in Sedona, Arizona. We serve Verde Valley and all of Arizona. We offer free consultations and we can help you with your estate planning needs. E-mail us here or call 928-282-1483 to set up your free appointment.
