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August 2015 Archives

Avoid conflict by keeping beneficiary designations up-to-date p2

We are talking about the importance of keeping estate plans up-to-date. It's an easy thing to forget -- we don't watch our wills and trusts the same way we do our IRAs and 401(k)s. A will may not be sensitive to market conditions or Federal Reserve interest rate deliberations, but it does need some tending. Most estate planning professionals recommend at least an annual update, and that includes making sure your beneficiary designations are current.

Avoid conflict by keeping beneficiary designations up-to-date

Estate planning professionals generally agree that developing the plan -- writing the will, signing the trust documents, drafting a healthcare power of attorney -- is the first step, not the only step, toward ensuring your wishes are followed when you die or if you become incapacitated. Every person should have some kind of plan, and every person should review his or her plan annually.

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