2014 is here and it is time to start making your New Year resolutions. One should be to review your estate and financial plans. You have made the great first step by having your plan put in place. Now make sure it continues to meet your goals.
We recommend having your estate plan reviewed every three years. Laws are like the Titanic, slow moving, and should give you plenty of time to make adjustment. But without the periodic reviews, your plan may hit that oncoming iceberg.
For the financial component, we listen to our financial planning colleagues, and will say to have your finances reviewed annually – make sure the course you charted is still heading in the proper direction.
At the very minimum, every year you should verify that your assets are correctly tied to your trust – most should be titled in the trust’s name but some, such as retirement plans, should list the trust as a beneficiary.
Also, if you have had life changes during the last year, it is important to review your estate plan with your attorney. Has a loved one passed away? Have you had additional children or grandchildren since you last reviewed your plan? Do you remember who you listed as your decision makers? Do you still trust the ones you have listed? All of these questions and more should be asked and addressed.
Start 2014 the right way – make an appointment with a qualified estate planning attorney to have your plan reviewed!
Why Choose Morris Hall:
You have a number of options when it comes to estate planning, so why pick Morris Hall? First off, estate planning and asset protection are a very complicated endeavor and you should only trust someone who focuses exclusively on those matters. Also, MH is a proud member of The American Academy of Estate Planning Attorneys (AAEPA) which provides us additional support, advanced training, tools and information that is not available to others – which means that we can better protect your assets and your loved ones. We are one of only two firms in Arizona that belong to the AAEPA and are the only firm in New Mexico that has been granted membership. If you have assets and loved ones that you want to protect, you are in good hands with MH. Contact us today at 888.222.1328 to schedule an appointment!