As the year draws to a close, it’s a good time to reflect on the year that was. Hopefully, you experienced many positive moments this year and easily overcame those not-so-positive ones.
During this time of reflection, it’s a good idea to consider what changes occurred in the past year that may affect your existing estate plan documents, including your will, trust, or advance directive. Below is a basic list of events that could have an effect on your existing estate plan. If any of these apply to you, you may want to consider updating your estate planning documents to ensure accuracy.
- Got married
- Got divorced
- Had a child
- Adopted a child
- Lost a parent or sibling
- Bought a home
- Sold a home
- Acquired a large asset
- Disposed of a large asset
- Acquired a large debt
- Enjoyed significant appreciation of an asset
- Changed jobs
- Welcomed a grandchild or great-grandchild
- Moved in with someone
- Were diagnosed with a serious health condition
- Lost contact with a trusted friend
- Acquired a new life insurance policy
- Became a trustee
- Became a beneficiary of a trust
In addition to (or despite) these changes, I hope the last year was as good to you as it was to me. Wishing you a healthy and prosperous new year!
If you have any estate planning questions or want to affordably update your existing estate planning documents, schedule your free consultation today. I’d love to work with you in the new year.
This website includes information about legal issues and legal developments. Such materials are for informational purposes only and may not reflect the most current legal developments. These informational materials are not intended, and should not be taken, as legal advice on any particular set of facts or circumstances. You should contact an attorney for advice on specific legal problems.
Lauren Lester is an affordable family law, estate planning, and probate lawyer licensed in Colorado.