Powers of Attorney

Fall Estate Plan Check-Up

As we rapidly enter the Fall season, I thought it would be a good time to check back in and discuss a few estate planning concepts.

With the election season upon us, there is continued talk of what tax laws may change, and how that may affect estate planning. As always, I will keep up on any changes that could affect your plan and keep in touch with you.

Understand Your Estate: One issue I am seeing is that some folks I meet with don’t understand how their estate would work when they die. They think everything will pass based on the instructions written in the Will, but that is not always the case.

In the middle of the Coronavirus pandemic, is now the right time to consider updating or starting your estate plan?  Below are seven reasons I put together to consider why now may be the time. In no particular order:

1 – Concern About Future: For me, the pandemic has been eye opening in several ways personally, and many of my clients who have started their estate plans in the last couple of months say the same thing. Their concern for the future—and the unknown—has added urgency to planning.

2 – SECURE Act: The SECURE Act was passed in December, 2019—feels like a century ago, right? But it could change your estate plan, particularly if you have significant retirement assets. Get your plan reviewed to ensure it is SECURE Act optimized.