Three Signs That Your Estate Plan Might Not Be Up to Par

If you think you accomplished estate planning by sitting down several years ago with an estate planning attorney but your life circumstances have changed since then or if you used an online form that you’re not even sure is valid in your situation, these are some signs that your estate plan might not be able to accomplish the goals you set. Here are three major red flags that you should keep in mind with regard to your estate plan.

The first is missing critical components. Most estate planning lawyers in Virginia Beach would recommend that you have an advanced medical directive, a financial power of attorney, and a will in place. You should also have been reviewed by an attorney recently.

The second red flag that can pop up in your estate plan is that you haven’t benefitted your executor names or beneficiary names since the plan was originally drafted. There is always the possibility that these people are no longer alive or the right people to take over this responsibility.

A third red flag in your Virginia Beach estate plan is that you haven’t named strategies for your personal effects. This includes family heirlooms, jewelry, and personal collections. These can cause a significant amount of family conflict if you haven’t carefully thought about them. You’ll want to discuss your estate planning intentions with your family members, too.

Schedule a consultation today with a Virginia Beach estate planning lawyer to walk through these and other red flags that can be easily avoided with the right estate plan.

If you think you accomplished estate planning by sitting down several years ago with an estate planning attorney but your life circumstances have changed since then or if you used an online form that you’re not even sure is valid in your situation, these are some signs that your estate plan might not be able to accomplish the goals you set. Here are three major red flags that you should keep in mind with regard to your estate plan. The first is missing critical components. Most estate planning lawyers in Virginia Beach would recommend that you have an advanced medical directive, a financial power of attorney, and a will in place. You should also have been reviewed by an attorney recently. The second red flag that can pop up in your estate plan is that you haven’t benefitted your executor names or beneficiary names since the plan was originally drafted. There is always the possibility that these people are no longer alive or the right people to take over this responsibility. A third red flag in your Virginia Beach estate plan is that you haven’t named strategies for your personal effects. This includes family heirlooms, jewelry, and personal collections. These can cause a significant amount of family conflict if you haven’t carefully thought about them. You’ll want to discuss your estate planning intentions with your family members, too. Schedule a consultation today with a Virginia Beach estate planning lawyer to walk through these and other red flags that can be easily avoided with the right estate plan.