Mid-Year Estate Planning Checkup: Is Your Plan Still Up to Date?

As we reach the halfway point of the year, many people take time to evaluate their goals, finances, and personal priorities. It’s also the perfect opportunity to give your estate plan a mid-year checkup.

Why a Mid-Year Review Matters

Life can change quickly. A new grandchild, marriage, divorce, retirement, relocation, or the purchase of a new home can all affect whether your estate planning documents still reflect your wishes.

Even if nothing major has changed, reviewing your plan annually can help ensure everything remains current. In addition, it provides peace of mind.

Questions to Ask During Your Estate Planning Review

As you review your estate plan, consider the following questions:

• Have there been any significant changes in your family or financial situation?
• Are the people you’ve named as your executor, trustee, Power of Attorney, or Health Care Agent still the right choices?
• Have your beneficiary designations been updated on retirement accounts and life insurance policies?
• Have you acquired or sold any major assets?
• Has your address or state of residence changed since your documents were prepared?

Before You Travel This Summer

Summer is also one of the busiest travel seasons of the year. Before heading out on vacation, it’s reassuring to know that your estate planning documents are up to date should the unexpected occur.

When Should You Update Your Estate Plan?

If it’s been several years since you’ve reviewed your estate plan—or if you’ve experienced a major life event—now is an excellent time to schedule a review with an experienced estate planning attorney. Also, a few simple updates today can help ensure your wishes are carried out tomorrow.

Estate Planning Is an Ongoing Process

At Russo Law Group, we encourage clients to think of estate planning as an ongoing process rather than a one-time event. Nevertheless, a periodic review can help keep your plan aligned with your life. This gives you and your loved one’s confidence for whatever the future may hold.

Ready for your mid-year estate planning checkup? Contact us to schedule a review and ensure your plan continues to protect the people and assets that matter most. We look forward to the opportunity to work with you.

Disclaimer: The information provided above is for general informational purposes only and is not legal advice.