- posted: Jan. 03, 2023
Each new year millions of people decide to make a fresh start in some area of their lives by resolving to exercise, to lose weight, to read a book a month or any of a multitude of other things. Often we stick with our resolutions for a month or two and then fall back into old habits. This year, however, make a resolution that you can easily keep. Resolve to prepare an estate plan for your family and heirs by making a will or a living trust directing how your estate will pass at your death. If you already have a will or trust, resolve to have your estate plan reviewed at least every three years and updated if needed by an experienced estate planning attorney.
Laws change, personal circumstances change and families change, so your estate plan should be reviewed to make sure that it still meets your needs and desires. A revocable living trust is not required for every estate, but it will avoid the need for court administration of an estate in Probate. If the value of your real estate has increased to the point where its gross value exceeds the current minimum amount requiring a probate then you might want to discuss with an attorney whether a living trust would be right for you. If you have lost a spouse and you own assets that would be subject to probate then you should consider discussing the costs and benefits of a living trust with an experienced estate planning attorney.
Health care directives and powers of attorney can also give you and loved ones peace of mind knowing that you have designated a trusted person to be your health care agent to make decisions for you if you cannot make decisions for yourself in an emergency or because of incapacity.
Contact Curry and Curry Attorneys at Law to make an appointment to discuss what types of legal documents and estate plan might be right for you and your family this year, and give yourself and your heirs peace of mind. Best wishes to you and your families for a very happy and prosperous new year!