A New Year, A New Plan
Many of us enter the new year with a fresh perspective on life and resolve to improve ourselves. Some aspire to exercise; others promise to look for a more satisfying career. Make 2015 the year in which you make or update your estate plan by:
1. Updating your beneficiary forms. Non-probate assets such as investment and retirement accounts and life insurance policies are 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. Safeguarding 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 properly access them after you pass away. Additionally, an estate attorney can prepare documents specifically concerning your digital estate.
3. Reviewing your current estate plan… if you have one. Estate plans should be reviewed every few years to make sure your current 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 are 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.