As a result of the 2017 Tax Act signed into law by the President, it is now advisable for you to review and possibly revise your estate plan. A variety of personal changes may have occurred in your life which affect your estate plan, irrespective of your net worth including the following:
- Changes within your family unit (i.e., your health, a beneficiary’s health, an adoption, a marriage, a divorce, a relocation, a death or birth of new beneficiaries, etc.),
- Changes in your asset distribution objectives (i.e., inclusion v. exclusion of certain beneficiaries, retention of assets in trust v. outright asset distribution, etc.),
- Changing needs and abilities of beneficiaries, including their financial condition, their ability to manage assets, or their qualification for governmental aid,
- Reassessing individuals or institutions now appointed as your Executors, Trustees, Attorneys in Fact, and Primary Agents, due to advanced age, other demanding commitments, abilities, death, or corporate takeover, and
- Changes in net worth, as well as changes in your address.
Please understand, the primary purpose of this message is to alert you of the importance of keeping your estate plan up to date. The above issues apply to all US citizens whether you are married, single, gay, or straight. If you now believe a free, follow-up conference with me is desirable, please call my law office to schedule an appointment. Likewise, I encourage you to visit my new website, and review the above personal issues in more detail at: test.parrishestatelaw.com.