Is September the “new” new year? 🤯
If you created an estate plan when your children were young, you likely created a plan where the assets you left behind would be put into a trust and managed by a loved one or friend that you named as Trustee at the time you signed your will!
September is the new New Year! When the kids go back to school in the fall, it can be a great time to get organized and tackle projects, instead of typically waiting 'til after the winter holidays. So if you're like many of us who now find ourselves inside more often, September is the perfect time to look at your will or trust document and review what you’ve put in place.
Have have things changed? Is your selected trustee still alive and able to help if needed? Has your relationship with this person changed, or has this person aged or experienced illness that leaves you to believe a new person should be selected. Or maybe your kids’ lives have changed so much that the distribution plan you created when they were little just doesn’t match up anymore? Maybe a child received a full-ride for college and now you’d like to make sure that trust funds would allocated more heavily to other children. Maybe your child has become a parent, or has trouble managing money or other lifestyle disability, or is an ultra-savvy entrepreneur who is going to reach financial maturity way in advance of what you thought.
The fact that you have an estate plan in place is a GREAT place to be because changes are usually easy and straightforward. Please contact our office if you would like to review your documents professionally and discuss possible changes and updates to your own documents.
Steve Debenport iStock-174851242
Will You Be Able to Help Your College-Age Child in a Medical Emergency?
The HIPAA Privacy Rule can get in your way!
Early one October morning, Sheri E. Warsh, a mother of three from Highland Park, Ill., stepped out of the shower to a ringing phone. On the other end, her 18-year-old son’s college roommate delivered terrifying news. Continue reading article....