We are now 4 days into 2016. You may or may not have already ditched your new years resolutions by now. After all, just because the calendar presents a new year, it doesn't mean you are going to turn into a gym rat, run a marathon, or change your diet from regularly eating pizza and pasta to eating no carbs and drinking green smoothies.
There is one resolution you can make that does not require changing your daily routine; that is reviewing your estate plan! It is time to dust off your estate planning documents and make sure your plan accurately reflects your current wishes and goals.
If you live in South Florida and do not have any estate planning documents, it is time to prepare them! Estate planning documents, such as your will, trust, and power of attorney are living documents. They need to be reviewed and updated as the laws change and as your family and financial situations change.
Have there been any life changing events since the last time you reviewed or prepared your estate plan? If you can answer 'yes' to any of the following questions, then your estate plan should be reviewed:
* Did you get married or divorced?
* Did your spouse pass away or become incapacitated?
* Did you have or adopt any children?
* Did any of your beneficiaries marry, divorce, have children, pass away or become incapacitated, or encounter creditors or other financial problems?
* Did any of your designated fiduciaries pass away or become unfit to serve in their designated roles?
* Did you retire?
* Did your financial situation change?
* Did you buy or sell a home?
* Did you sell your business?
* Did you acquire new assets?
If you live in Miami-Dade, Broward, or Palm Beach county contact an experienced estate-planning attorney at The Hershey Law Firm, in Fort Lauderdale, Florida, at (954) 303-9468 to discuss your estate planning needs.