Having a will, living trust or estate plan is an excellent start to providing a secure future for yourself, your loved ones and the causes you value; however, keep in mind that your estate planning needs may change with time.
Don’t let your will or estate plan languish indefinitely in a safe deposit box or your attorney’s files; updating and reviewing your plans periodically is important to ensuring they still reflect your vision for the future, benefit the people and causes closest to you, and make the most of current tax laws.
The following are just some of the reasons to re-evaluate and revise your plans:
- A substantial increase or decrease in the value of your estate
- New people should be named in your will (e.g. birth, adoption)
- Children reach the age of 18
- Change in guardians, personal representatives or trustees
- Incapacity of a family member
- Divorce or marriage
- Your spouse has died
- Individuals you have named as beneficiaries are deceased
- Change in tax laws
If you are interested in estate planning, please contact Susan Sasvari, senior director of gift planning, at (312) 942-3691 or firstname.lastname@example.org.
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