When was the last time you went through your estate plan and made any necessary changes? Likely, it has been a while, laws have changed, and some elements need revisiting and adjusting. This Kiplinger article provides a checklist to guide you through the process of reevaluating your estate plan. 

There are just a few key things to keep in mind when you update your plan:

• Where you live – have you moved to a new state? Laws can differ from state to state, so take this into consideration when looking over your plan.
• Significant changes – whether you’re having a new baby or getting a divorce, reassess your plan accordingly.  
• Changes in laws – your estate plan could be affected by changes to state or federal laws that may include exemption limitations, probate, gift tax, etc. Review your plan if any laws have changed that could affect your estate.
• Power of attorney – who have you chosen to act on your behalf should you become incapacitated? Make sure this information is up to date and still accurate. 

Don’t wait until it’s too late. Give the team at Rhodes Law Firm a call to review your plan today.