As you clear out closets and look to make donations to make way for summer, don’t forget about the important consideration of reviewing and updating your estate plan. An estate plan only functions properly when it is reviewed on a regular basis. A major life event could be a reason to stop and review your estate plan, such as a marriage, divorce or birth of a child or grandchild.
However, every five years you should also take a look at your estate plan to make sure that it has incorporated other changes in your life. If you don’t have an estate plan created, it is crucial to consider the benefits of creating a basic last will and testament. Far too often family members realize the consequences of failing to have a last will and testament after a loved one has passed away, and an executor or personal representative must be appointed to deal with this fallout. This can be a confusing and unnecessarily frustrating experience because your estate will be distributed as aligned with specific state laws.
When is the last time you made sure that your New Hampshire or Maine estate plan aligned perfectly with your goals? If life circumstances have changed you need the support of a lawyer to help you adjust your plan.
This leaves no room for personalization and is easily avoidable by having an experienced and knowledgeable estate planning lawyer create a simple will and testament for you in advance. Make sure you’ve documented your wishes and protected your loved ones by consulting with an estate planning attorney in NH.