School’s in Session: Is Your Estate Plan Still Making the Grade?

The back-to-school season isn’t just for students, it’s the perfect time for families to hit the books on something just as important: their estate plans. Life changes fast, and what worked last year might not still be relevant today. Use this quick checklist to make sure your plan is still top of the class.

1. Review Your Beneficiaries

Did your kids, spouse, or other loved ones change? Have you welcomed new family members into your life? Make sure your beneficiary designations on insurance policies, retirement accounts, and other assets reflect your current wishes.

2. Update Your Wills and Trusts

Life events — marriages, divorces, new children, or a move to a new state — can all affect your will or trust. Even minor changes in your finances may require adjustments to ensure your plan works as intended.

3. Check Powers of Attorney and Healthcare Directives

Your medical and financial agents should be people you trust completely. Review your documents to make sure your chosen agents are still appropriate and up to date.

4. Revisit Guardianship Plans

If you have minor children, double-check your guardianship designations. Circumstances change, and it’s crucial that your kids would be cared for by the people you trust most.

5. Keep Communication Open

An estate plan isn’t just paperwork, it’s a roadmap for your loved ones. Make sure family members and key advisors know your wishes and where to find important documents.

6. Schedule an Annual Check-In

Even if nothing major has changed, a yearly review with your attorney can prevent surprises and help your plan stay in top shape. Think of it like your annual report card for peace of mind.

Bottom Line:
Just as students benefit from regular check-ins, your family’s estate plan deserves an annual review. A little attention now can prevent confusion and stress later, keeping your plan and your loved ones on track.
Contact us today to see if your plan is still making the grade.