Life is constantly changing, and current legal and financial plans may no longer be applicable or wise at some point in the future. This is why it is critical to regularly update existing estate plans. All-important plans should match current needs and objectives for the future, and asking certain questions could help a Florida adult understand what changes and updates are necessary for the full amount of protection he or she needs.
There is no cookie-cutter solution to creating an effective estate plan. Each individual will benefit from carefully assessing his or her own personal objectives when creating a strategy that provides the appropriate amount of protection and security. The following questions may be helpful when updating an estate plan:
- Who should receive estate assets?
- What happens to items with sentimental value?
- Who will be the executor of the estate?
- What are one’s wishes for important health care decisions?
- Could minor children need a guardian?
- Do family members understand one’s wishes?
- Are all estate planning documents carefully organized?
Updating an estate plan is an important step after most major life events. This includes a death, birth of a new child, remarriage and more.
Creating an estate plan can be a difficult process, and having experienced assistance is important. A Florida adult who needs to make long-term legal and financial plans or one who needs to update plans will benefit from working with an experienced legal ally. An estate planning attorney can help one understand what updates and changes could be important for an existing plan.