TED STARR ANSWERS FREQUENTLY ASKED QUESTIONS
In this video blog, you’ll get the answer to this frequently asked question: When should your estate plan be reviewed?
Hi, my name is Ted Starr. I’m an attorney in Pinellas Park, Florida and I’m here to answer some questions. The question is: When should your estate plan be reviewed? Well, like anything else, that depends. It depends on whether the people in your life, who if you have included in your plan have changed or have died or moved away or are no longer part of your life or you may have new people in your life that you need to include. Sometimes younger people that were minors when you did your original plan are now adults and you may way to treat them differently than you did when you did you original planning back so many years ago. Another factor is that sometimes people will lose their estate planning documents and can’t them. In which case you’ll want to re-do your documents just so you make sure you have an original document available if something happens to you. Your estate plan is your plan for what happens to your assets and what happens to you if you become ill and as you potentially die. So if you need to make some changes, it’s probably a good idea when you are well to take those documents or copies of those documents to an attorney so you can review the documents to make sure your estate plan meets your needs now. One of the things I do get asked is should I change my estate plan if family members that are listed in the estate plan have moved? So their old address is on their will or their old address is on the power of attorney. And that answer is no, if your family members move, but you still want the same family members involved in your estate plan, then you don’t need to change the document. Your children are still your children whether they live in Florida or some other place.