Estate Planning & Elder Law

Easter time is here, a sure sign that spring is upon us. It's a time for rebirth, a time for new beginnings. I think that Easter resolutions would be as appropriate as New Year's resolutions. We open the windows in our homes, to let the fresh air in. We clean-0ut our garages and do a thorough cleaning of our houses. The Spring flowers are blooming and the first grass-cutting is just around the corner. The birds and squirrels outside my window are carrying leaves and sticks for this year's nest. Spring is a time of hope and brings with it positive feelings about the future.

Spring is also a time for organizing. We organize all our tax information for filing our income taxes. There's no better time to review your estate plan. You have much of the information right there in front of you. If you don't have an estate plan, or, if your estate plan is out-of-date (over 5 years old), you might consider establishing, or updating, your plan.

You want to make sure that all your assets are titled correctly and that all beneficiary designations are current and verified. Nothing derails an estate plan faster than a mis-titled asset, or an inappropriate beneficiary designation.

Spring is a time of change, change from one season to another. Between winter and spring there is a state of flux. One day its 60 and sunny, the next day its 30 and snowing, the next day the snow has melted but its 50 and windy and tomorrow..... who knows. This is somewhat like the laws surrounding estate planning and the tax laws. Things have been pretty volatile over the past several years with no idea what tomorrow will bring, except that there will be change. Your estate plan should reflect the current laws. There will be parts of the new laws to take advantage of and other parts that need to be planned around. What 'worked' last year may not have the same effect this year, or next.

Keeping your estate plan current is no harder than cleaning out your garage or home. It seems unpleasant at the time, but it also leaves you feeling like you accomplished something and once you start maintaining and updating your estate plan on a yearly basis, there won't be as much work over time. Additionally, the peace of mind that you gain knowing that your estate plan will work, the way you want, when you want, is immeasurable.