Does your family know where your most up to date estate planning documents are located? If you signed a will in 1985 and put it in your safe deposit box, signed a new will in 2001 and put it in your desk at home, told your son about one, told your daughter about the other, they may be confused. The attorney information on each document is different. Then they find something containing information for a third attorney. At a time when they are grieving, they are now on a scavenger hunt for your most up to date estate planning documents.
Think about how many instructions you leave with your house sitter when you are leaving for a week. Do you not want leave proper instructions if the event of your death?
If you took the time to see an attorney and create an estate plan, you probably want to make sure it is followed. Tell your closest family members where your estate planning documents are located. Keep them in an easily accessible location, preferably in your home where they can be easily found in the event of an emergency or death. Provide important contact information for trusted advisors such as your attorney, accountant and financial advisor.
Plan ahead. With proper estate planning and counselling, you can minimize unintended consequences, leave your legacy how you want, to whom you want, and the way you want.
If you have questions about your estate planning, don’t hesitate to call 407-977-8080 or visit our website HoytBryan.com.
About the Author: Peggy Hoyt Peggy R. Hoyt practices in the areas of family wealth and legacy counselling, including trust and estate planning and administration, elder law, small business creation, succession and exit planning, real estate transactions and animal law.