Guardianships for Minor Children Make Reviewing Your Estate Planning Especially Important

It is hard for me to believe that my daughter, Erin, is already one year old.  As I think back over the last year, I am amazed by all of the things she has learned and accomplished, and I can only imagine what she will learn in her second year of life.

Now that Erin has reached her milestone of the first birthday, it is time for my husband and me to review our estate plan.  Although I typically recommend to clients that they review their estate plans every three years, there are instances in which it should be done more frequently, such as when minor children are involved or a change in family circumstances has occurred.  Since Erin is a minor, I feel it is important to review our plan every year.  It is not that I necessarily believe that we will need to make changes to our beneficiaries, trustees, agents or guardians; I just want to take the time to review whom we have chosen to be a part of our plan and what role each person will play.  My husband  and I spend the majority of our discussion about our estate plan reviewing whom we listed as guardians for Erin.  We will verify that the individuals we chose are still willing and able to serve as her guardians.

Remember that every life change has the possibility of impacting your estate plan.  Take the time to review your plan on a regular basis.

What the Attorneys of Morris Hall Can Do For You:

The attorneys at Morris Hall have 100’s of years of combined experience ensuring that families’ assets are protected from probate, unnecessary taxes, creditors, ex-spouses and Medicaid spend-down.  The attorneys also help those in Arizona and New Mexico to apply for and receive Medicaid assistance and Veterans Benefits.  Our Arizona offices are located in Phoenix, Mesa, Scottsdale, Tucson, Prescott, Flagstaff and Arrowhead.  Our New Mexico offices are located in Albuquerque, Las Cruces and Santa Fe.  Contact us today at 888.222.1328 to schedule an appointment!

This blog should be used for informational purposes only.  It does not create an attorney-client relationship with any reader and should not be construed as legal advice.  If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.