Perhaps you created an estate plan years ago. Since then, your family has grown by marriages and births, you sold off a family business, and you acquired new property in a vacation home. Now, you need to update your estate plan due to your changing circumstances.
Estate plans in Washington can be easily updated. You want to ensure that the right beneficiaries are receiving your assets. You also want to ensure that you have given authority to only the most responsible individuals to manage your funds if you become incapacitated. Without updating your estate plan, you could accidentally forget to assign specific assets to new family members, or you could give power of attorney to an individual that may now prove unfit for the role. When you experience small or large life changes, it is crucial that you maintain and update your estate plan.
Estate Planning and Your Peace of Mind.
Above all, having a comprehensive estate plan offers you peace of mind. You may have decided who will receive your collections, your property or even your own inheritances, and you feel confident knowing that your assets will be in deserving hands when you pass away.
Further, though you may have chosen a responsible, knowledgeable individual as your Agent in your financial power of attorney or medical power of attorney, you may realize that they are not suitable for the position now. Perhaps they have moved away, or another individual seems more suitable.
Our estate planning attorney can help you understand all aspects of your estate plan and provide you with important advice in updating your documents.