Best Discrimination Attorneys in Wheat Ridge, CO

When Should You Revisit Your Estate Plan? Have you taken the time to sit down and form an estate plan? If so, congratulations. You have taken a crucial step, one that adults of all ages should take no matter what their age or health status. But that does not mean you are home free. Because life circumstances can change, you’ll want to take a look at your will, living trust or any other plans you’ve made regarding the end of your life. A good rule of thumb is to revisit your estate plan at least every five years. But major life changes warrant a retooling, as well. Take relationships for example. Have you gotten married recently? Divorced? Ended a committed relationship with someone you named in your will? If any of these happened since you specified your final wishes, you’ll want to amend your documents. Do not forget about documents outside your will or living trust; assets such as retirement accounts, life insurance, joint bank accounts and real estate may need to be changed, too. Sometimes the loss of a spouse is not by choice. If your spouse dies, the last thing you will probably feel like doing is attending to paperwork. Eventually you will want to name new beneficiaries for your spouse’s retirement assets that you may have inherited. In doing so you will prevent your heirs from losing income tax benefits that come with these accounts. Also keep in mind that current estate laws allow widows and widowers to add unused exemptions of their deceased spouse...