Keeping Your Estate Plan Updated
When It Comes to Your Estate Plan Don’t Just ‘Set It and Forget It’
During the Pandemic, more people are paying attention to estate planning than ever before. This can include such things as your will, end-of-life concerns, and other legal documents. Why is this such good news?
No matter who you are or how much your estate is worth, it’s always important to have your estate plan in order. Once your plan is set up, it’s best to review your plan(s) at least every few years. You might ask why? What could change?
Here are a few key things you should consider when setting up or reviewing your estate plan:
What documents do I need?
Usually, you should have a power of attorney, will, health care surrogate, and a trustee (if you have a trust in place).
Can I just do this on the internet?
Actually, you can but it is recommended that you see an estate planning attorney.
Do I choose who handles things?
You can choose whomever you want to make financial decisions, health decisions, and take care of your children. In fact, it can be different people as the one person taking care of your kids may not be the one you want handling your money.
What happens if the person I choose can’t do it?
It is a good idea to have someone who is a contingent or backup and you can have as many as you like.
Doing your estate plan is a very important thing to do to secure what you wish to have done in a life-changing event. Once it is completed, you will have peace of mind. Keeping up with it every few years will ensure it stays relevant and up-to-date.
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Learn More About IFW’s Retirement Planning Education Services
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Rees Bridges brings a unique value to the IFW as both a highly accomplished creative professional and a successful financial services executive to serve in his role as Senior VP, Marketing & Communications.
Over the last decade Rees has served as the lead marketing & communications professional for a Fortune 500 Financial Services firm. He oversaw all advisor marketing strategies, client communications, and the entire firms branding and marketing initiatives.
Rees continues to pursue his passions as a creative professional & musician for over 30 years, with an impressive profile and reputation as a designer, performer, teacher, and studio musician. Here is a little secret: He serves in the role as an international clinician for Mapex drums, Paiste Cymbals and held the record for world’s fastest drummer between 2006 and 2007.
Rees grew up in London, England and currently resides in Miami, Florida. When not at work, he enjoys spending time with family and friends, traveling, and indulging in his passions for music and creative pursuits.
