Plan for the New Year
Make 2016 the year in which you create or update your estate plan!
1. Update your beneficiary forms. The distribution of non-probate assets such as investment and retirement accounts and life insurance policies is dictated by beneficiary designations – not your Will. Coordinate your beneficiary designations with your estate plan and make sure the appropriate beneficiaries inherit from your estate.
2. Safeguard your digital assets. Many online and digital assets are password-protected or encrypted. Keep a list of your email accounts and online profile information so that loved ones can access them after you pass away. An estate attorney can prepare documents specifically concerning your digital estate.
3. Review your current estate plan . . . if you have one. Estate plans should be reviewed every few years to make sure your wishes are clearly documented. Take note of significant changes in your family or financial situation, as those may necessitate additional planning.
A small investment of time on your part can make a world of difference for your loved ones. If you don’t have an estate plan in place and have resolved to put one in place this year or would like to update your current estate plan, we at The Becker Law Firm would be happy to answer your questions and help you.