With everything we have been through in the past year, I think it would be fair to recommend that all of us have reason to review our estate planning documents. And if you don’t have any, now is the time!
Especially if you are over the age of 60.
Typically, we tend to review our estate plan when we get older or if there has been a significant change in our circumstances. However, if you are over the age 60 and you haven't updated your estate plan in many decades, it’s time to update your documents. After everything has been updated, you should continue to review your plan every two and half years.
Here are a few age ranges and what they mean in terms of estate planning:
While the timeline above outlines when you should review and perhaps update your estate plan, the following changes in circumstances also warrant a review of your plan to see if it still meets your goals and needs:
Bob Michaels is extremely passionate about providing the best possible legal experience for his clients, and focuses his practice on elder law, estate planning, business, and real estate matters. Bob specializes in helping folks build a long-term care plan based on their circumstance. If you are considering a long-term care plan, schedule your appointment today!