Putting The Change Of Seasons On Paper

Once you have created your estate plan, it can be tempting to lock away your will, living will, trust, power of attorney, and other documents for safekeeping and forget about them for years to come. However, it is important to view your estate plan as a set of living, breathing documents that require alteration from time to time to reflect changes in your life.

When you experience a major life event such as the birth of a child, marriage, divorce, retirement, or the lost of a loved one, it may be a good idea to review your estate plan for any necessary updates.  Often, designated beneficiaries, guardians, trustees, or personal representatives need to be changed to better reflect current relationships and wishes. Additionally, changes in your financial status or property ownership may necessitate a review of your estate plan to make sure your best interests and those of your loved ones are served.  An update to your estate plan can also accommodate your changed needs in the event of a health problem or the onset of a disability.

While it is always important to have verbal discussions with your loved ones regarding changes in your wishes, it is vital to put your decisions in writing to ensure that your wishes are carried out properly. Think of verbal communication as an iMessage. Your message reaches the recipient, but in much the same way that all iMessages, without exception, are encrypted leaving no history of the communication outside of a device itself, so verbal communication of your estate plan can be easily deleted, forgotten, and lost in the clutter of life.

As your life and relationships change, make a point of reviewing your estate planning documents from time to time to ensure that your plan is still right for you and your loved ones.