The beginning of a new year is a good time to look at your estate plan.
Reviewing your estate plan is a really good idea. There is no time like the beginning of the year as the Wills, Trusts & Estates Prof Blog suggests in some estate planning tips in "Tips for Estate Planners in 2017."
Those tips include:
- Make sure that your life insurance policies are up to date.
- Write down what your children should do in the case of an emergency.
- Save your family the hassle of providing for your burial and make those plans yourself.
- Put money in a 529 plan to provide for the educations of your children or grandchildren.
- Hold a family meeting so everyone knows what to expect from your estate plan.
- Create a list of your important assets for your estate administrator.
- Make sure that someone can access your passwords to digital accounts, in case something happens to you.
- Update charitable bequests, if necessary.
Reference: Wills, Trusts & Estates Prof Blog (Jan. 21, 2017) "Tips for Estate Planners in 2017."
