Creating your estate plan is a major first step in the protecting your assets and your loved ones. But that plan will only do some good if it's kept up-to-date and your family knows where to find it.
Here are a few tips to make sure that your estate plan is always working for you:
Keep it Updated – Today, you might own a home and two cars. You might have two children, both living independently or off at college. But who's to state when things might change? Your kids could get committed and also have children of their own. You may buy another estate or opt to choose rentals estate.
Keep it Accessible – Locking your estate plan documents away in a lock box or safe deposit box is merely a good notion if someone apart from you can reach them. Ensure that your family recognizes where your documents are placed which at least two of your loved one's members get access to keys, pin rules, passwords and other necessary data. If you need more details regarding estate planning, you can also visit http://www.einheuserlegal.com/michigan-estate-planning-attorney.
Keep it Growing – A Will or Trust is a great start to an estate plan, but don't stop there. Have you got Advanced Directives in the destination to protect you in the case of a disability? Documents such as a Durable Power of Attorney at law and a full-time income Will make all the difference in the world if you are no longer in a position to speak for yourself behalf.