Andalman & Flynn
September 18th, 2023
No matter how little or how many assets you have, every person should go through the estate planning process.
Estate planning allows the decisions you make about your health and distribution of assets to be known and followed despite your own incapacitation or death. Estate planning also alleviates the stress, chaos, and confusion for your family and friends when they try to figure out your wishes.
However, even after completing your estate planning documents, you always want to review and reassess your estate planning documents when there are life-changing events.
Estate Planning documents include Last Will and Testament, Trust documents, Power of Attorney, and Health Care Advance Directive (i.e. Living Will).
At a minimum, you should review and reassess your estate planning documents whenever these eight events occur:
The passage of time alone and changes in the law are also reasons why you should review and update your estate planning documents. At a minimum, you should revisit and review your estate planning documents every three to five years and whenever one of the above life-changing events occur.
Andalman & Flynn, Attorneys at Law
