BlogEstate PlanningTax

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.





Learn More About IFW’s Retirement Planning Education Services

It’s never been more important than now to mitigate market risk, devise a tax reduction game plan, and learn strategies for the most retirement income.  If you’re interested in paying less or possibly no tax, increasing retirement income, and never running out of money in retirement, make sure to attend the next live IFW Retirement Roadmap Webinar.  It’s FREE & happens every Wednesday at 7 PM EST.   Get all your retirement questions answered during the live Q & A.  Every attendee also has the opportunity to receive their own FREE customized retirement roadmap.  REGISTER FREE NOW!


The IFW provides valuable financial education, resources, and services that help people live their best life. 

Please remember, be mindful of the messenger that positions certain products or services as “always” bad or “always” perfect.  The fact of the matter is there are no “bad products” or “perfect products”.   The right product is the one that aligns with your goals and objectives.

The Institute of Financial Wellness believes when it comes to financial decisions; never say “Never” never say “Always”…It Depends.


Related Articles

Back to top button