Are You Sure Your Estate Planning is Up-To-Date?

August 31, 2017 by

Update your last will and testamentWhen was the last time you reviewed your estate plan? Reviewing your estate plan regularly (as often as every two years) is important to be sure your wishes are followed.

  • You must keep your beneficiary designations of your estate plan up to date. If you die and the beneficiaries are deceased or named incorrectly, a probate court may become involved causing an increase in fees and the possibility an unintended recipient will receive your property.
  • Changes in your assets from land to personal property to a business you own can also affect your estate plan. It is important to review these details especially if you sell real estate, a larger investment, or a business.
  • Laws, including tax laws, constantly change. Those changes can impact your estate plan. Reviewing your plan with an estate planning attorney can ensure plans properly account for changes in the law.

Your attorney is a great resource to help you review your estate plan to ensure it is up to date.

Please call Stross Law Firm at 813-852-6500 or Contact Us for a free, initial consultation to discuss your estate plan and find out if it’s time to review.