For example, what if your inability planning files are old and don’t consist of the appropriate HIPAA language. In case you end up being handicapped, your enjoyed ones may have to end up going to court to get the right to make decisions on your behalf. And this is the very thing that an inability plan is implied to prevent.
Failure to update your files when the law changes can mean that possessions meant for your household go to Uncle Sam instead.
So, how do you keep your estate plan updated?
You need to get in the habit of examining it on a regular basis, yearly if possible. When you look over your estate plan, you ought to think about any life changes you’ve experienced just recently, like a marriage or divorce, the birth of a child, or even moving to a new state. When modification happens, check with your estate planning lawyer and take the advised action.
What about modifications in the law?