Here are some of the more common reasons to consider revising your Will, Trust, Power of Attorney, Health Care Power of Attorney and other estate planning documents:
• Change in your marital status – marriage, separation, divorce, death of a spouse.
• Birth or adoption of a child, unless your Will already provides for this event.
• Change in your preference about who should inherit from your estate.
• Change in you preference as to whom you wish to serve as your executor, guardian of your children, or trustee.
• Death of a beneficiary, executor, guardian or trustee.
• You are moving to or from North Carolina.
• Change in your estate planning needs and goals.
• Change in laws, such as tax laws.
• Material change in the value of your estate or in the types of assets you own.
• Change in your health or the health of your executor, guardian, trustee or a beneficiary.
As you can see, there are many reasons that may cause you to revise your existing Will or other documents. Because life keeps changing, estate planning is not normally a one-time event, but a lifelong consideration.
For further assistance, please contact one of our Estate Planning, Probate, and Elder Law attorneys.