The start of each year is traditionally a time to make resolutions – more exercise, eat healthier, volunteer more. This year, you should also consider resolving to create or revisit your estate plan. Perhaps no resolution could be more important in terms of peace of mind, family planning, taxes and your legacy.
If you do not currently have an estate plan, it is important that you consult with an attorney and put in place, at a minimum, the basic estate planning documents, including: (i) a Last Will and Testament, (ii) Financial and Health Care Powers of Attorney, and (iii) a Living Will. Also, if you have not revisited your existing estate plan recently, you should resolve to revisit your existing estate plan with legal counsel to determine if any changes should be made to your estate planning documents to address any changes to your life circumstances and/or any modifications to the tax laws since you created your estate plan and/or potential law changes that may be on the horizon.
The attorneys in our Estates and Tax Practice Group regularly assist individuals in addressing these and other important estate planning issues. If you are interested in learning more about how to start your estate plan discussion and/or revisit your existing estate planning documents, please contact Catherine Mihalick of our Estates and Tax Practice Group (firstname.lastname@example.org). We are here to help!