Four Tips for Fireproofing Your Estate Plan
As we begin the new year, it is a good idea to review the terms of your estate plan. As you glance over these documents, which likely include things like powers of attorney, trusts, wills, and advance healthcare directives, it is important to ask whether your estate plan is still capable of achieving your objectives. A skilled estate planning attorney can help you review your plan to make sure that it is still the best idea to achieve your goals given various changes with estate planning and tax laws. Think about your estate planning as fireproofing your legacy. While poorly written estate plans will do little to protect your loved ones from risk, a fire-proof estate plan will ensure that your loved ones remain safe and well provided for long after you are gone. Adequately Planning for Blended Families For people with blended families, the question of who should receive what asset is often a much more complicated issue. Failure to properly pass on assets can leave children and other family members greatly disappointed. If a surviving spouse is placed in control of trust assets, stepchildren might be neglected in how an estate is administered. To fully fire-proof your estate [...]