Has your financial or medical situation changed since your plan was created? Have any of your children or grandchildren gotten divorced and remarried, or started families of their own? Do your beneficiary designations continue to reflect your wishes? What about the people you have chosen to make financial and medical decisions on your behalf—are they still willing and able to do so? Are all of your trusts properly funded?
Your plan must take all of these issues, and more, into account for it to accomplish your goals. The fact is, an outdated or improperly designed plan is often worse than having no plan at all.
As 2020 begins, you’ll likely reflect upon what kind of year 2019 was for you and your family. In doing so, we hope you’ll also take time to review your plan and update it to take into account any changes in your financial, medical and family situation. If you have any questions about your plan, don’t hesitate to reach out to us.