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- Estate Administration and Probate
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Estate Administration and Probate
- Finding Tips On Estate Planning at the Theatre
- Update on the Status of Federal Estate Tax
- Michael Jackson Estate Makes Land Mark Estate Deal With Sony
- The Governator Says Health Reform Will "Beat Up" California
- When a will isn’t enough
News
- The Growing Rate of Dementia and Alzheimer's...
Posted on 3/9/2010 - Let it snow! Pittsburgh Extends Property Tax Deadline...
Posted on 2/9/2010 - Estate Tax, Medicaid, Social Security Changes Ring In New Year...
Posted on 1/13/2010 - Main beneficiary to Michael Jackson’s estate shakes up her probate team...
Posted on 10/22/2009 - Illinois Supreme Court upholds will restricting inheritance based on religion...
Posted on 9/30/2009
Library
Estate Administration and Probate
- When Pennsylvania Estate Recovery Can Take Place By Law
- Joint Bank Accounts - Risks and Benefits
- Guidelines for Gifts and Joint Accounts
- Intestacy Laws Of Pa: Dangers of Not Having a Current Living Will
- Drafting Wills That Protect Clients' Interests: Every situation is different, which is why we select vehicles that meets each client's needs
News
Estate plans don’t expire, but they do need to be updated
Posted on Aug 31, 2009
Estate plans don’t expire, but they do need to be updated when your life situation changes. Major life events like marriage, the birth of a child, divorce, remarriage, death of someone mentioned in your plan, or other such events can make your estate plan inaccurate.
To ensure that your estate plan accurately reflects your current wishes, you should review it any time one of these major events occurs. If you don’t, your estate could face legal challenges after your death as your survivors attempt to make sense of an outdated plan.
Make sure that you don’t confine your estate plan review to obvious documents like your will and trusts. You should also ensure that the beneficiary designations on your financial and insurance plans are up to date.
Be sure to review the beneficiary designations on your retirement plans (401k, IRA), investments (mutual funds, stocks, bonds), insurance plans, bank accounts, and any other similar items.
You should also review and update any powers of attorneys that you have, especially durable financial and healthcare powers of attorney. You don’t want, for example, your former spouse to be given the power to make financial decisions for you if you become incapacitated.
Your estate planning attorney can help you make updates as necessary and ensure that your overall estate plan accurately reflects your wishes.
Read More About Estate plans don’t expire, but they do need to be updated...
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