A well drafted estate plan is intended to last many, many years. It is my hope that my clients ride off into the sunset with their estate plans and do not need any updates. However, life is anything but constant, so sometimes changes are necessary. It is important to revisit your estate plan every few years and when you and your immediate family experience major life events--for example: marriages, divorces, births, deaths, buying/selling a home or winning the lottery--to make sure your plan still matches your goals.
Attorney: Anna Gunderson
While your college kids are home for the holidays it's a great time to encourage them to put some just-in-case legal documents in place. When children turn 18 and become adults, their parents are unable to legally act on their behalf without court intervention or the individual's express written consent. Accordingly, you should consider having your adult children put two legal documents in place: a health care directive and a power of attorney.