Lots of people use the holidays, a time when you have the ladder out to get decorations out of the attack, to also check and change the batteries in smoke detectors. But, there is another important thing you should do about once every ten years at the end of the year, check to be sure that your estate papers are in order.
Not surprisingly, laws change. While we usually here about big changes in things like taxes, or welfare, or other “hot button” items, we almost never hear about the hundreds of pages of law changes made every year or so in our state legislatures and Congress that may effect our estate plans.
In just the past 5 years several change have been made to the form, and efficacy, or simple things like Powers of Attorney, Nominations of Guardians, and Simple Wills. The changes made to benefits for the elderly occur on a quarterly basis.
If you have not had your lawyer look over your estate documents in the last 5 years, it is time to do so. In most cases this assurance will cost you little more than 60 minutes time at your lawyer’s hourly rate. If changes have become necessary, the extra expense will be small in comparison to the magnitude of the bullet you may had just dodged, or, more accurately, pushed your loved ones away from.
This article is written by an attorney at Wyatt & Mirabella, PC. Always consult an attorney before making any legal decisions. To make an appointment today for a free consultation, please click here to contact us.