Valentine’s Day is the perfect time for a reminder to be diligent in your estate planning. A well thought out and carefully executed estate plan can mean the difference between a time consuming and costly process for your heirs or a relatively simple and less costly one. Review your beneficiary designations on all IRAs, life insurance, and 401k plans. Ensure your Will and or Trust(s) are kept up to date. Keep careful records of all assets, where they are located, and how to access them. Have a plan for if you become incapacitated or ill and unable to manage your own affairs. Consult an attorney well versed in estate planning for additional considerations.
-Emily Helmick Packwood, Esq.