Why An Estate Planning Attorney Should Review Your Will Yearly

Just like our own health, our wills need annual checkups by qualified estate planning attorneys to guarantee that everything is still in working order and reflects the reality of your family’s situation.  Here are the top reasons to have an annual will check up with a Harnett County estate planning attorney:

Asset changes

Whether your finances experienced substantial gains or losses, yearly reviews will help keep your estate planning up to date and relevant to your family’s situation.  Other considerations include additional insurance policies, pensions or properties (bought and sold) need to be incorporated to the will’s directives.

Relationship changes

Welcoming new family members to the fold?  Your estate planning documents should always reflect where your family’s life is currently at and annual will reviews will take into consideration any marriages, divorces, births or deaths that might have occurred that would affect your will or make specific stipulations no longer relevant.

Changes in tax laws

It’s not an understatement to say that both state, federal and local tax laws are constantly changing.  Don’t let your estate get caught in any unseen complications that come along by reviewing your will each year against any updated codes, laws or stipulations.

Philanthropy

Maybe you’ve found a cause you’re passionate about and want to support even if something ever happened to you.  Estate planning attorneys can help you work your philanthropic goals into your will and verify your wishes with each annual review.

Moves and relocations

New places mean new tax laws and considerations to take into your estate plan.  If a move has taken place or is on the horizon, your annual will review is the time to bring it up with your estate planning attorney to make the new transition seamless.