![]() Did you know, most Americans who have an estate plan never bother to update it? We do not want you to fall into this category. Be certain your estate plan reflects your goals for both the present and the future.ġ. Use it now, or any time throughout the year. Please accept our Estate Planning Checklist. We encourage you to focus on what truly matters, ensuring that your estate plan is up-to-date and reflects your wishes at the end of the year. A simple, year-end estate planning checklist will ensure the completion of a timely estate plan review.įrom spending time with family to making plans for the new year, to ensuring that you have accomplished all the goals you set during this year, there is so much to do. Failure to update your estate plan will result in disappointment, frustration, sadness, and even anger in the face of your neglect. The most important people in your life depend on you and your judgment. Too many parts of your life have changed, and your estate plan must change with them. To learn more about Argent Bridge, call us to schedule a consultation at (833) 568-4900.“I’m good! I have an estate plan.” As the year-end approaches, your to-do list looms larger. The professionals at Argent Bridge Advisors can advise you regarding the best practices for estate planning. Regularly updating your estate plan will ensure that your legacy goes to the intended recipients. Changes will not be made unless you initiate them. Once you’ve finalized your plan with your attorney, you need to only periodically update your estate plan.ĭo this when there is a major life change (marriage/divorce, birth/death, etc.) and update your beneficiaries as needed. Copies of these documents need to be kept in your records. This essential task may be overlooked once you’ve completed your estate planning checklist.Īssets included in living trusts need to have their titles changed to reflect an ownership change. ![]() Make sure beneficiaries are consistent with your estate plan by checking your insurance and retirement accounts. Not doing so may disrupt the transfer of these funds to the intended recipient. This will include setting up trusts, creating medical and financial powers of attorney, if needed.īear in mind that living trusts need to be funded immediately in order to take effect. ![]() Meet with your attorney and finalize your estate plan and will. To whom will you give the responsibility of distributing your assets?.Who will manage your affairs in the event that you’re incapacitated?.If you have minor children, whom will be their caregivers? How much will they need to be cared for in terms of education and day-to-day expenses?.To whom do you want your assets given? In what percentages?.Consider these questions as your meeting approaches, noting any answers you’re unsure about. Set a date to meet with a lawyer thatspecializes in estate planning. Once you’ve done this, you’re ready for the next part of the four important estate planning factors. ![]()
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