Not Always What they Seem – Planning Your Estate requires Care

Too often issues or impressions of estate planning are not what they seem, and your plan should contemplate that. A beneficiary that seems well adjusted may have or develop mental health or addiction issues. These possibilities should be contemplated in your estate plan and your estate planning documents. All your children (or other heirs) are “fine.” Are they? Do they have financial issues? Are they as responsible as you think? Do you really know? Is your daughter’s marriage really stable? If you really aren’t sure should you bequeath her inheritance in trust instead of outright to protect her from divorce? The most common excuse for not updating an estate plan is “nothing has changed.” Is that really the case? Tax laws, property laws all change and often significantly.