OUR DIFFERENT BUCKETS
Consider the various buckets you have – maybe you have a bucket of cleaning supplies, or a bucket (think, basket) of laundry that needs to be washed or folded and put away, or a bucket (think, cup) of pens, pencils, markers, paper clips and other miscellaneous office supplies.[/caption]
Now think about figurative buckets in your life – perhaps your outstanding bills and debts that need to be paid, or concerns for your children or other family members. Your important papers, like car titles, deeds, account statements, life insurance policies make up their own bucket.
What about your estate planning bucket – What’s in there? Maybe a Will, Powers of Attorney for Health Care and Property, a Revocable Living Trust. And does it have any holes that need fixing? That is, how old are these documents, if you have them at all?
Laws change. Your family changes. Your assets change. If these changes are not addressed by:
- creating or updating your key estate planning documents,
- reviewing, changing and/or adding beneficiary designations on life insurance and retirement accounts, and possibly other assets, and
- checking how your accounts and assets are titled and thinking about what that means to you and your family, and making any necessary changes,
then there are, in fact, holes in this very important bucket. And these holes could result in the loss of valuable time, money, family heirlooms or businesses, and family relationships.
Don’t lose anything through a hole in your estate planning bucket. Fix it now. The attorneys at Waltz, Palmer & Dawson, LLC, can work with you to determine what steps you can take now to be sure that you and your family will be taken care of if you become incapacitated and upon your death.
Waltz, Palmer & Dawson, LLC is a full-service law firm with various areas of service to assist your business, including: Employment Law, Intellectual Property, Commercial Real Estate, Litigation and general Business Law services. Individual services include Estate Planning, Wills and Trusts, Probate, Guardianship, Divorce and Family Law, Collaborative Divorce & Mediation.
This article constitutes attorney advertising. The material is for informational purposes only and does not constitute legal advice.