You’ve got an estate plan, and that’s awesome. But now, let’s make sure it’s working as smoothly as a freshly-oiled Ryan Reynolds one-liner.
Estate Plan Maintenance Checklist:
1. Property and Account Review
Update your plan to reflect any new investments or real estate. Downsizing? Getting a retirement home? Make sure your documents reflect these changes.
2. Beneficiaries and Guardians
If your kids are adults now, update their status in your plan. Also, consider adding provisions for grandchildren, other relatives, or even charities.
3. Life Insurance Policy Changes
Lost that cushy employer life insurance policy? Replace it with a new policy or adjust your plan to account for the missing funds.
4. Tweaking Inheritance Distributions
Make sure your beneficiaries receive what’s appropriate based on their current needs. Whether it’s more or less, we can customize it like a bespoke suit.
Up Next: In our final blog in this series, we’ll get into estate planning strategies to help you sleep easy at night.
