We often get asked “Can I update my estate plan documents at any time and is it common for people to do that?” The answer is absolutely you can update the documents, they are rarely set in stone, and certainly most people do revise their estate planning documents throughout their lifetime.
As with all things, as life changes through the years, so do our estate plans. It’s imperative that your estate plan change as your needs and desires change as well as your circumstances.
As people get married, have children, as families grow and expand, or as loved ones pass away, our estate plan with who we want to leave our assets to, who we want to make decisions for us if we cannot, and who should handle our estate once we have passed, changes too. What we may have once wanted in the early phases of life, may not be what we want in the middle or end phases.
Because of the ever-changing aspects of life, we not only draft initial estate planning documents, but we also help individuals and families to amend their estate planning documents as needed, to ensure their estate plan is right for their life at that time.
It is very common for individuals to update powers of attorney, wills and living wills several times throughout life, and we are here to help when the time comes to do so.
If you have any questions about the topic discussed in this article, or any estate planning matter, please give us a call at Bononi & Company 724-832-2499.