In part one of this series, we explored two popular scams that are targeting older adults this year. In this week’s blog, I’m sharing two more scams that you and your parents need to be aware of, plus tips for staying protected. Read more…
Read MoreDid you forget any of these critical financial steps when you created a Trust? Be sure to read this week’s blog to learn why proper funding of your Trust is essential to making it work! Read more.
Read MoreAs the world and its laws continue to evolve, everyone needs to keep their estate plans up to date. An estate plan is a set of documents, such as a will or trust, that dictate how assets will be distributed upon death or incapacity. An individual's current legal and financial situation should be considered to create a comprehensive estate plan tailored specifically to their needs.
Ensure Your Wishes Are Respected
The primary reason to update an estate plan is to ensure that an individual's wishes are respected upon death. For example, suppose an individual has recently acquired valuable property or has had changes in family structure (such as marriage or children). In that case, updating the documents that outline how assets should be distributed is important. If the documents are not updated, this could lead to disputes between family members and legal complications when probate occurs. Additionally, if laws change at the state or federal level, those changes need to be incorporated into the existing estate plan to remain valid and effective.
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