We are now in the depth of winter, all while a global pandemic continues to affect everyday life here in the United States. As such, people are spending a significant amount of time at home. Now is a perfect time for you to review your estate plan if you have not taken a look at it in a while.

Estate planning should not be a “set it and forget it” project where a plan is developed but not reviewed and revised as years pass. Over time, your life circumstances will change and perhaps your wishes for how you administer your estate. It is especially important to review your estate planning paperwork if you welcomed a new child, got married, divorced your spouse, or saw other significant changes to your life or your estate and owned assets.

5 Estate Planning Topics to Review

If it has been some time since you last checked your estate plan, here are 5 items to focus on.

1. Beneficiaries

Make sure your beneficiaries are updated. Check and see that they are all still alive, and that all the beneficiaries you have selected are still people you wish to receive those particular assets. Perhaps there are beneficiaries you would like to add into your estate plan since you created it, including new children or a new spouse. Perhaps you were divorced and want to make sure your ex-spouse does not receive anything.

2. Healthcare proxies and directives

Your views on certain types of healthcare procedures and lifesaving measures might have changed since you first implemented your advance directives. Make sure the person you appointed as a healthcare proxy is still the best person to take on this role. Carefully review your healthcare directives and see if they still fit what you are looking for.

3. Guardians

If you have minor children living with you, or adults depending on your care or support, make sure your chosen guardians are still willing to take on that role and that you still believe them to be suitable for the task if a worst-case scenario arises.

4. Basic estate facts

Do not forget to look over some of the basic facts in your estate plan to make sure they are still accurate, including your address, net worth, and assets owned.

5. Powers of attorney

Make sure the person you have selected for durable powers of attorney is still alive, still willing to take on the role, and still the person you believe to be best suited for the job.

Explore More

For additional information on any of these topics, explore Estate Planning.

Schedule a Free Consultation

We would be pleased to work with you and your family to establish, change, or improve your estate plan to best protect your family and assets.  Our experienced estate planning attorneys can help ensure your plan meets your wishes.

We offer an initial free consultation. To schedule, call our office, send an email or complete our online form.

Baker Law Group P.C.
781-996-5656
info@MBakerLaw.com
Hingham – Brockton – Holliston – Plymouth
Massachusetts