When Should an Estate Plan Be Reviewed?
July 6, 2021
The documents may still be valid but if they are stale or outdated, you may spend significant money trying to use them down the road.
Menu
The documents may still be valid but if they are stale or outdated, you may spend significant money trying to use them down the road.
Are there any grounds that my adult children, siblings or ex-wife can contest my living will or the power of attorney that I have signed into effect for my caregiver?
If the deceased has a will, it usually names a close relative, friend, accountant, attorney or financial institution to act as executor of the will.
In some cases, estate planning can be quite simple. In others, it can be a complex process with far-reaching consequences. In either case, it is important to review your wishes and have the proper documents prepared to ensure that they are followed at your death.
Is it better to help your children when you’re still alive? Or wait until after you die?
Death, taxes and our fingers are a few things we can count on. As for the former, taxes will be owed, and death is certain.
While memorials and tributes continue to pour in, one thing is clear: Prince Philip had clearly defined wishes regarding how he wished to pass, as well as his funeral plan.
When the legendary singer, songwriter and performer Prince died suddenly in 2016, he left an estate estimated to be worth between $50 and $300 million dollars – and no will. Without a spouse, living parents or children, his sister and five half siblings have been battling it out since, in one of the most complicated probate court proceedings in Minnesota history, with tens of millions of dollars being spent on fees for lawyers and consultants.
Protecting a nest egg is tough enough. Don’t make the situation far worse.
While a will is one of the most important estate planning documents you can have, there are things that a will won’t cover.
