5 Reasons to Review Your Estate Plan
A Will is a legally binding estate planning document that expresses one’s intentions for the distribution of their estate.
A Will can prevent or limit claims on an estate, whilst ensuring that the testator’s wishes are effectively carried out.
Even after a will has been executed, there are a number of circumstances which may give rise to a review of your estate planning documentation.
The five key reasons to review your estate planning are:
Your social or financial circumstances have changed and your original Will is no longer valid or appropriate;
One or more of your nominated beneficiaries has experienced a change in social or financial circumstances and you wish to amend your gifts accordingly;
Your health status has altered and you wish to make provision for previously unforeseen circumstances;
You have not appointed an alternative or substitute executor to act on behalf of your Estate;
You have failed to nominate a beneficiary under your will whom you wish to include or are concerned might make a claim on your Estate.
If any of these five key reasons resonates with you, it’s time to update your Will. Contact our office for a consultation to review your estate planning.