In the first part of our series on practical steps for ensuring a comfortable retirement, we covered estate planning, passing on a legacy, and preparing for long-term care. This week, we continue with five more steps, including adapting your home for comfort and safety and leveraging technology for independence. Implementing these steps will provide you with greater peace of mind in your later years. Read more.
Read MoreEver curious about the fate of your social media accounts after you're gone? Each platform follows its own set of rules, making it crucial to understand these policies to manage your digital presence responsibly. Continue reading to learn 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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