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.estate plan review, estate planning, estate planning documents, health care directives, power of attorney, review, trusts, wills