Many types of property and investments pass outside of probate and allow you to designate who will receive them after your death. It is important that these designations are kept up to date and are consistent with the rest of your estate plan.
As more and more people marry more than once, prenuptial agreements have become an important estate planning tool. Without a prenuptial agreement, your new spouse may be able to invalidate your existing estate plan.
Being a trustee is a big responsibility and if you don’t perform your duties properly, you could be personally liable. That’s why it’s important to hire the right people to guide you in this important role.
You may need to reevaluate some elements of your estate plan in light of the coronavirus pandemic. There are unique elements to this crisis that your current estate planning documents may not be suited to handle.
As the COVID-19 pandemic continues to spread, estate planning is a higher priority than ever. But no one wants to put themselves or others at risk while doing it. Elder law and estate planning firms are well aware of this concern.
The coronavirus health emergency is a reminder that life is unpredictable, and it makes sense to be prepared. It may sound self-serving, but with the threats posed by the pandemic, it may be a good time to reevaluate your estate plan.