Is your Will Up to Date?

Good morning;

I hope everyone out there, your family and friends, are healthy and safe.

There are a number of reasons to make sure that your Will is up to date, including:

1. The individuals you have named are deceased.

2. New people should be named in your will (e.g. birth, adoption).

3. Divorce or marriage.

4. New state laws. You need to periodically check to see whether your state has enacted new laws that impact your estate planning documents. More importantly, if you move to a different state, don't assume that your will made in your previous state conforms to the requirements of your new state. Each state has its own legal requirements for making a will.

5. Change in guardians, personal representatives, or trustees.

6. Children reach the age of eighteen.

7. A substantial increase or decrease in the value of your estate.

8. The acquisition or disposition of a significant asset.

9. You should see an attorney about reviewing and updating your estate plans prior to reaching 70 1/2years of age if you have an IRA, 401(k), or other qualified plans that require you to begin to take distributions at age 701/2. The beneficiary that you designated will have an irrevocable impact on both your and your beneficiary's required distributions.

10. The passage of time is reason enough.

You should review your will and estate planning documents every three to five years.

I am available at any time to speak with you either via telephone or Zoom video conference. Call today.