New Year’s Resolution: Create or Update your Estate Plan!

Estate Planning Financial Planning.Arkansas Attorney.Last Will.Revocable Trust

2014 is here and it’s time to put your estate planning on the top of your “to do” list.  If you don’t have an estate plan in place, now is the time to put one in place.  If you already have a plan, now is the time to do an estate plan review.  As time passes, many things in your life change, and those changes can have a drastic impact on your estate plan wishes.  Not sure where to begin?  Take a look at the list below.

1.   Marriage. Did you, your child or another family member named in your documents get married?

2.   Divorce. Did you, your child or another family member named in your documents get divorced?

3.   Birth or adoption of a child, grandchild, etc. Did you, your child, or someone else give birth or adopt a child that you would like included in your estate planning? Do you have to name a guardian for your children in case of your death?

4.   Child has reached the age of majority. Has a child named in your estate planning documents turned 18 or otherwise reached a milestone set in your estate plan?

5.   Death or serious illness. Has someone named in your estate plan died or fallen seriously ill, especially if it’s someone who has been named as your executor, power of attorney or trustee?

6.   Changes in relationships with people, pets or organizations. Do you have a new relationship with someone or an organization you would like to include in your planning? Alternately, have you severed any such relationships?

7.   Purchase or sale of major assets. Have you bought or sold a house, opened or closed a business, etc.?

8.   New insurance policies or pension plans. Have you acquired new insurance policies or pension plans that require adjustment of beneficiaries in your estate plan? Have you reached the age at which you are required to take distributions from a pension plan?

9.   Change of your state of residence. Have you moved and inadvertently made part of your estate plan invalid?

10. Tax law changes. Are there new or different provisions in the tax law that affects your estate distribution plan?

If the answer to any of the above is yes, and you do not have an estate plan, or you have not had your estate plan recently reviewed (within the past five years), then it is time to contact Shane Henry & Associates to schedule a consultation with attorney Shane Henry.

During your consultation, Shane Henry will gather information about you, your family, your assets and your wishes.  He will review your estate planning options, identify the estate planning documents that will best fit your needs and tell you how much it will cost to prepare the documents.

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