An Estate Plan is a living set of documents. As your life changes, your plan should change too.  While there is no standard timeline for when you should make updates to your will, there are a few key life changes that should signal to you when it is time for a review – and possibly for a change.

As the summer heats up, it’s a good time to check up on our parents and other senior loved-ones. Making sure they are safe in the hot humid weather is a must. Another good thing to check on is their estate plan. Do they have their estate planning documents updated? Is there a Power of Attorney in place? A Health Care Proxy & Living Will?

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A client called me recently, having been told by an estate planning attorney that his trust had to be changed as he was living in Florida, and his trust has been drafted in New York State. It seems that his friends had met an attorney who informed them that there was a “major change in the law.” The attorney had convinced his entire group of friends that they needed to re-state their New York Trusts to “Florida Trusts”.
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