Life Changes…So Should Your Estate Plan

Here are 10 life changes that should prompt a review of your estate plan…

1.   Marital Status – Are you recently married, divorced, or remarried?

2.   Size of family – Have you recently welcomed children to your family (born or adopted)?

3.   Guardian – Do you want to change who would be guardian of your minor children?

4.   Beneficiaries – Do you want to change who will receive your property, or how much they will receive?

5.   Person in Charge – Do you want to change who will be in charge of administering your Will (Executor), your Trust (Trustee) or your                  Agent under a Power of Attorney?

6.   Assets – Has there been a significant change in the assets you own?

7.   Medical Care – Have you changed your mind about what kind of medical care you want to receive near the end of your life?

8.   Business Succession – Do you own a business and want to change what will happen to your interests in the business upon your death?

9.   Tax Laws – Have the tax laws changed since you last revised your estate plan?

10.   State – Have you moved to a new state since you last revised your estate plan?

Our firm can review your estate plan with you and help you determine what changes would be appropriate.  Call 630.560.1114 to speak with our estate plan attorney, David Gower.