Even though your estate plan is centered on your desires and how you would like your life's accomplishments to be distributed, you are not the only person who your plan will affect. At Curley Law Firm LLP, we have significant experience helping people in Massachusetts to create a customized estate plan.
An important part of developing a plan for your future is regularly revisiting your plan to make sure that it is updated and addresses the changes that have taken place within your life and family structure. Significant life events that could affect the condition of your plan include divorce, births, adoptions or marriage. Taking note of these changes and seeing that they are reflected in your legal documents can give you peace of mind knowing that despite your life's evolvement, your plan remains current and legitimate.
According to Fidelity Investments, along with regularly revising your plan as the need arises, another valuable measure to take is to write a letter to your family that carefully outlines their role in your plan, especially after your death. Each time you update your plan, verify that none of those changes need to be addressed inside of the letter. Inform your family about where this letter has been documented so they can have access to it when needed.
When you have adequately planned ahead for your future, you can be confident that you can continue living life to its fullest without unwanted stress or pressure to make last-minute decisions when no time is left. For more information about planning your estate, visit our web page.