Estate planning is an ongoing process where individuals arrange their intentions of how to be cared for in the event of death or disability by drafting the necessary legal documents. When creating these documents, individuals base their decisions on facts and circumstances they are currently aware of or are reasonably foreseeable in the future. However, the variables of life such as changes in law or unforeseeable events may sometimes negatively alter the effect of one’s estate plan if not updated. It is important to review and update these documents every few years to account for changes in the law and life events in order to ensure your intentions are satisfied.
Leveraging Your Business Options
- Choosing the Right Executor and Trustee: A Crucial Decision in Estate Planning
- Strategies for Safeguarding Your Assets from Creditors and Lawsuits
- Understanding the Basics of Wills, Trusts, and Probate
- Revocable vs. Irrevocable Trusts: Understanding the Differences and Their Uses in Estate Planning
- Essential Estate Planning Documents: Powers of Attorney, Healthcare Directives, and Living Wills