Posts Tagged Plan Maintenance

Have You Reviewed Your Beneficiary Designations Lately?

On January 21, 2021   /   Blog  
Tags: , ,
Have You Reviewed Your Beneficiary Designations Lately?

Maybe it’s an insurance policy you took out years ago. Or the retirement plan you set up with your employer the day you started working for the company. Or the IRA you have been scrupulously contributing to for two decades. You created them all to protect your financial future and that of the people you care about most. But over time, your personal situation may have changed. Perhaps you have gotten divorced and remarried? Or one of your children has gotten married, and you are not exactly thrilled with your new son or daughter in law? The fact is, change is a part of life. The question is, have your beneficiary designations kept pace with the changes in your life? We understand that reviewing your designations is something that’s easy to put off, the kind of chore you’ll get to “any day now.” The consequences of not doing so, however,

Continue Reading... →
Back to Top

Six Reasons to Revise Your Estate Plan

On July 28, 2020   /   Blog  
Tags: , ,
Six Reasons to Revise Your Estate Plan

For your estate plan to meet your needs, it must be kept up to date. We recommend having your plan reviewed at least once every two years, but there are certain situations where you should have your plan revised immediately. Here are some of the most common reasons to do so. You get married. Getting married, or re-married, doesn’t automatically change the provisions of your will or trust. While marriage can give each spouse some rights with regard to one another’s property, you should have your plan revised to make sure it addresses your new goals and those of your spouse. You get divorced. Providing for your spouse is likely one of your estate plan’s most important goals. If your marriage ends, chances are you will no longer want your spouse to receive the majority of your estate. You should update your plan as soon as possible after a divorce

Continue Reading... →
Back to Top

Planning Tips For The New Year, Continued

On June 16, 2020   /   Blog  
Tags: , ,
Planning Tips For The New Year, Continued

Here are some additional planning tips to bring you peace of mind in the new year. Review your asset allocation. The start of the new year is an excellent time to reassess your investment portfolio to make sure your asset allocation is where it should be to accomplish your investment goals. Additionally, a stock, mutual fund or other investment that out-performed the market two years ago may not have done as well in 2019. If so, take a long, hard look at it. Make a detailed monthly and annual budget. One of the greatest fears among retirees and seniors is outliving one’s life savings. If you haven’t done so already, create a detailed monthly and annual budget. If you already have a budget, be sure to update it to account for any changes in your income or unforeseen expenses. Take a home inventory for insurance purposes. What is the precise

Continue Reading... →
Back to Top

Planning Tips for the New Year

On June 9, 2020   /   Blog  
Tags: , ,
Planning Tips for the New Year

It’s impossible to predict what the new year has in store for us. However, if you follow some (or all) of these tips, 2020 should bring you greater peace of mind. Update your estate plan. We’ve said it before, but as an estate planning firm dedicated to making sure your plan continues to address your needs and goals, we’ll say it again: Don’t let your plan become obsolete. It is vitally important to have us review your plan whenever changes have taken place in your life. Has your financial or medical situation changed since your plan was created? Have any of your children gotten divorced and remarried, or started families of their own? Do your beneficiary designations continue to reflect your wishes? Are all of your trusts properly funded? Your estate plan must take all of these issues, and more, into account for it to accomplish your goals. The fact

Continue Reading... →
Back to Top

Now is a Good Time to Make Sure Your Plan is Up-To-Date

On March 31, 2020   /   Blog  
Tags: , ,
Now is a Good Time to Make Sure Your Plan is Up-To-Date

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. 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.

Continue Reading... →
Back to Top

Now is a Good Time to Make Sure Your Plan is Up-To-Date

On March 19, 2020   /   Blog  
Tags: , ,
Now is a Good Time to Make Sure Your Plan is Up-To-Date

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

Continue Reading... →
Back to Top