Spring is a season of renewal, making it the perfect time to review and refresh important aspects of your life including your estate plan. Just as you declutter your home, your estate plan requires periodic maintenance to ensure it still aligns with your wishes and meets your family’s needs. At Dasti & Staiger, we emphasize the importance of regularly reviewing your wills, trusts, and power of attorney to keep your estate plan current and effective.

Life is constantly evolving. Major life events such as marriage, divorce, the birth of a child, changes in financial status, or the passing of a loved one can all impact your estate plan. Additionally, changes in tax laws or estate planning regulations may necessitate adjustments to ensure your assets are protected and your wishes are honored.

Key Areas to Evaluate:

  1. Wills and Trusts: Ensure your Last Will and Testament reflects your current intentions regarding asset distribution, guardianship of minor children, and named executors. Likewise, review any trusts you have established to confirm they continue to serve their intended purpose.
  2. Power of Attorney: If you become incapacitated, a trusted individual should have the authority to manage your financial and legal affairs. Review your designated agent to confirm they are still the right choice for this critical responsibility.
  3. Healthcare Directives: Your advanced medical directives, including a Living Will and Healthcare Power of Attorney, should accurately reflect your wishes regarding medical treatment and end-of-life care.
  4. Beneficiary Designations: Assets such as life insurance policies, retirement accounts, and payable-on-death accounts are transferred directly to named beneficiaries. Review these designations to ensure they align with your overall estate plan.
  5. Asset Protection Strategies: If your financial situation has changed, it may be beneficial to implement new strategies for asset preservation and protection, including Medicaid/Medicare planning, guardianships, or conservatorships.

Regularly reviewing your estate plan is one of the best ways to protect your assets and secure your family’s future. At Dasti & Staiger, our experienced attorneys provide meticulous legal guidance and estate planning services to ensure your documents reflect your current needs and comply with the latest legal standards.

This spring, take the time to refresh your estate plan and gain peace of mind knowing your family is protected. Contact us today to schedule a consultation and ensure your estate plan is in top shape for the future.