Estate Planning is Not a One-Time Event
It is important, as our circumstances and the circumstances of our chosen beneficiaries change, that we review and - as necessary - update our plans to meet current needs and express current desires. The information we share here will be helpful to you in your continuing estate planning process.
A Ten Point Estate Planning Checklist
Please take a minute to consider the following questions:
1. When you established your present estate plan, did you realize that God was the owner of all, and was your estate plan designed under the direction of the Holy Spirit?
2. Do you have a durable power of attorney to manage property in case of incompetency prior to death?
3. Has your estate plan been reviewed within the last three years?
4. Do you have a letter of instructions for the distribution of household goods and personal effects?
5. Have you considered the many advantages of a living trust?
6. Have there been substantial changes in people, property or plans for your estate?
7. Have you done everything possible to avoid future interpersonal conflicts among family members?
8. Is the ownership of your property coordinated with your estate documents?
9. Have you provided for guardianship and property management for minor children?
10. Are you totally comfortable with your existing estate plan?
|
If you answered 'no' to any of the above questions, it's important that your estate plan be reviewed.
Reviewing Your Estate Plan
Most information written about estate planning is geared to the individual who has no estate plan. Therefore, we often think that once we have signed our wills, or planned our estates, we can forget about them. But that is not true. Estate planning is a continuing process. Whenever there is a change in your people, your property or your plans, your estate plan should be reviewed. Changes can also occur in your desires for the distribution of your estate, or in the laws which were in effect when your existing estate plan was completed.
How Do I Review My Estate Plan?
The review of your estate plan will follow much of the same process followed when you created your original estate plan. It requires the assistance of competent counsel to make sure your desires will be accomplished.
A Valuable Resource
Many individuals have found the material our staff has designed to assist our friends in the estate planning process, to be just as valuable in the review of their estate plans.
We have prepared a special Guide to Planning Your Estate which includes information and guidelines for the estate planning process, and an inventory form which can be used to list the data on your people, property and plans.
We Want To Be of Service To You
Whether you are making a review of your existing estate plan, or have not yet taken that first step in this important act of stewardship, please contact us for additional information. There is neither cost nor obligation.
| 
