Regular reviews and updates to your estate plan are crucial to ensure your family is properly provided for and your wishes are upheld in the event of your incapacitation or death.
Your estate plan may become outdated and no longer aligned with your current circumstances. Regular reviews and updates to your estate plan are crucial to ensure your family is properly provided for and your wishes are upheld in the event of your incapacitation or death.
There are various situations that may prompt a need to update an estate plan. They may include:
By proactively reviewing and updating your estate plan, you can confidently navigate life’s changes knowing that the people you care about most are protected.
Generally, an estate plan is a powerful tool that allows you to determine how your assets will be administered and managed once you are gone. It enables you to have control and direction over how your assets will be shared among your beneficiaries.
Everyone, regardless of their age or the size of their estate, can benefit from having an estate plan. Although some people associate estate planning with the rich or elderly, the reality is that everyone with assets needs an estate plan to protect their assets and wishes.
When updating your estate plan, there are a number of components to consider, including the following:
At Pedersen Law, PLLC, our attorneys help individuals create and update their estate plans. If you need help, contact us at (757) 903-4410 for a consultation with our Williamsburg estate planning attorney, Heather Pedersen, and learn more about our estate planning services.