For our younger readers, this time of year is heralded by the hustle-bustle of back to school activities. It is the time for parents of young children to double check that the kids have shoes that fit for gym class, warm clothes for the winter months, and pens, pencils, and rulers to stock the kids’ backpacks for the first day of school.
For all adults, now is a good time to review your estate plan to make sure that your plan is in order to meet your changing needs. Have you executed a Power of Attorney to ensure that a trusted agent can manage your financial affairs should you become incapacitated? Do you have an advance health care directive to ensure that appropriate medical choices are made even if you cannot communicate those choices to your health care providers?
Are the individuals you have chosen to serve as your agents in those documents still the best choices, or have your or their circumstances changed significantly so that choosing other agents is appropriate?
Do you have a Will? Does your will impose limits because your children were minors when you wrote it, limits that are no longer appropriate?
By asking yourself these and other questions, you will discover whether it is time to review your estate plan with your legal counsel. This type of periodic review of your estate plan will ensure that your plan continues to meet your needs even as your needs change over the years.
Happy autumn from the Gatesman Law Office.