Have you updated your Will and Estate Planning papers lately?

Have you updated Your Will and Estate Planning papers lately?

 

The sister of one of our agents recently passed away. She had been ill for some time, so the family had Have you updated your Will and Estate Planning papers lately?had time to do a lot of the necessary preparations. But that's not always the case.

 

It got me to thinking about how important it is to make sure your will and paperwork are up to date. If it's been a while since you looked at your will, here's a checklist of reasons to go in and update it. And if you don't have a will, GO WRITE IT NOW! The two inevitable things: death and taxes, right?

 

Would you rather leave things in order while you still have a say over who gets Aunt Edna's china, or leave confusion and chaos to rule once you're no longer here to sort things out? Be sure you take care of your Living Will and end-of-life preferences while you're at it. "It's never going to happen to me" just isn't a sound strategy when it comes to this important pre-planning.

 

We work with several excellent attorneys in Phoenix.  If you need a referal, please give us a call at
602-595-8900.

 

REASONS TO UPDATE YOUR WILL

 
  • The individuals you have named as heirs are deceased.

 

  • You want to name new people in your will (e.g. those who entered the family via birth or adoption).

 

  • A divorce or marriage has occurred.

 

  • New laws. It's important to check once in a while to see whether your state has enacted any new laws that apply to your estate planning. More importantly, if you relocate to a different state, it's vital to check their laws. Do not assume that what was valid in your old state is true of the new state you're moving to.

 

  • You've made a change in guardians, personal representatives, or trustees.

 

  • Your children have reached their 18th birthdays.

 

  • There's been a sizable increase or decrease in the value of your estate.

 

  • You have acquired or sold off a significant asset.

 

  • If you've got an IRA, 401(k) or similar plan, you should see your attorney to review and update your estate plans before you hit 70-and-a-half years of age.

 

  • Simply because a lot of time's gone by since you last looked at it. A review every three to five years is just good old common sense.

 

Have you updated your Will and Estate Planning papers lately?

Phoenix Property Shoppe  

 

 

Anna "Banana" Kruchten
Designated Broker & Owner
CRS,CRB,GRI


Phoenix Homes For Sale

 

Connect with me also on these sites!

 

    Anna Banana Kruchten Google+theannabanana on facebookAnna Kruchten LinkedinAnna Banana Kruchten on GoogleAnna Banana Kruchten of Active Rain

 

Your  Referrals are Welcomed and Appreciated Thank-you!

Comment balloon 8 commentsAnna Banana Kruchten,CRS,CRB,GRI • August 24 2009 05:28PM
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