The new year is a good time to review your estate plan and make any necessary changes. For those who created a plan years ago and have not taken the time to update it, you may want to consider going back and revising it or adding new elements. The changes you may need to make don’t always come specifically because of changes in law, but rather because of changes in how we live and the continued advancement of technology.
Computers
Everyone who has an e-mail account, digital photos, or any kind of important information stored on a computer needs to consider what might happen in the event you become incapacitated or die. A good estate plan will carefully inventory all of your digital assets as well as make it possible for your executor to access needed information if the time comes. If you have more significant digital assets, such as online business information, a personal blog, or you own any websites, you will need to make sure your digital estate plan is always kept up-to-date.
Pets
Many older people find that having a pet is not only a great comfort, but taking care of their pet is something they want to consider when they create their estate plan. You can create a plan that provides security for your pet should it outlive you. By creating a pet trust and setting aside property to provide for the pet’s care, you can rest assured that your pet will be cared for should you no longer be able to do so.
- Can a Party Refuse to Honor a Power of Attorney? - September 17, 2020
- Why Estate Planning Is Crucial for a Blended Family - September 15, 2020
- Building Flexibility into Your Plan - September 10, 2020
