Forbes published a great article showing 9 out of 10 entrepreneurs have out of date Estate Plans. What exactly is an “out of date estate plan”? Basically a plan (i.e. Wills, Power of Attorney, Living Will) that hasn’t been looked at in more than five years.
Here are five reasons to update your Estate Planning documents regularly:
- changes in the law: tax laws change yearly
- changes in your family: births, deaths, divorces
- changes in where you live: did you move to Texas recently?
- changes in your Estate: did you win the lottery or purchase a home in another state?
- changes in your life: were you diagnosed with an illness?
Check out the article and understand that it is never too late for Estate Planning…until it is too late
h/t to Professor Beyer and his blog at http://lawprofessors.typepad.com/trusts_estates_prof/ for the article
817.638.2022 or TWeaver@www.weaverlegal.net