As a Georgia resident, you know the importance of having an estate plan in place that complies with all Georgia laws and legal statutes. It makes the final disposition of your assets easier and spares your family from making difficult financial decisions at an emotionally trying time. As important as having an estate plan is, regularly reviewing that estate plan is an equally important part of estate planning.
There are a number of occasions and situations that make reviewing your estate planning documents necessary. A marriage or divorce, the birth or adoption of a new child, or a significant change in income and net worth are all valid reasons for an estate plan review. Why else might you review your estate planning documents?
- You acquire or sell real estate in multiple states
- You relocate to a different state
- Your life goals significantly change
- Someone to whom you designated a portion of your estate predeceases you
- Someone to whom you designated a portion of your estate has significant health challenges and may require government benefits such as disability or Medicaid
- Someone to whom you designated as an executor, POA agent or healthcare agent is unable to serve
- You suffer an incapacitating illness or injury that changes your ongoing needs
- You become the recipient of an inheritance which you had not accounted for in your own estate plan
In addition to your attorney, you might wish to review your estate plan with family members. Doing so can make your personal goals and final wishes clear, eliminate surprises after your demise, and lessen the risk of hurt feelings and misunderstandings about your plans. Additionally, it can help family members plan for their own future while still respecting your plans for distribution of your assets.
Preparing a will, establishing a trust, and completing an estate plan are good first steps. Regularly reviewing these documents with our team of skilled attorneys is the next important step. When you’re ready to ensure your estate plan accurately depicts your preferences and adequately provides for the needs of family and friends, call the experienced attorneys at Grissom Law, LLC. We’re here to help make your estate plan clear and concise.
Disclaimer
This Blog/Web Site is made available for educational purposes only as well as to give you general information and a general understanding of the law, not to provide legal advice. By using this blog site you understand that there is no attorney client relationship between you and Grissom Law, LLC.