Review and Update Your Estate Planning Documents.
Forbes.com provides some legal planning by recounting tips we could all learn from last year’s highly-publicized celebrity estates.
Review and Update Your Estate Planning Documents. As you may recall, Gary Coleman broke this critical rule. He created a handwritten codicil to his will leaving much of his estate to his then-wife. They later divorced, however, and Coleman never updated his will or created a new one. This led to a court fight that could have easily been avoided had Coleman updated or made a new will, making his wishes clearly known. Your wills, trusts, powers of attorney and other documents (including health care directives) should be reviewed and updated every few years – or whenever you experience significant life events like a marriage, divorce, move to another state, birth of a child or grandchild, etc.
Learn more about the estate plan review process on our website.
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