Reviewing your estate plan is a really good idea. There is no time to do this like the beginning of the year as the Wills, Trusts & Estates Prof Blog suggests in some estate planning tips in "Tips for Estate Planners in 2017."
Those tips include:
- Make sure that your life insurance policies are up to date.
- Write down what your children should do in the case of an emergency, including the name of your estate planning attorney so they know who to contact when the time comes.
- Save your family the hassle of providing for your burial and make those plans yourself.
- Put money in a 529 plan to provide for the educations of your children or grandchildren.
- Hold a family meeting so everyone knows what to expect from your estate plan.
- Create a list of your important assets for your estate administrator.
- Make sure that someone can access your passwords to digital accounts, in case something happens to you.
- Update charitable bequests, if necessary.
Your estate planning attorney can help you with this review process and provide guidance on how to make sure your affairs are in order and up to date.
Reference: Wills, Trusts & Estates Prof Blog (Jan. 21, 2017) "Tips for Estate Planners in 2017."