A person can make many estate planning mistakes that can lead to complications down the road, including failing to have a plan in place and failing to update a will after certain types of life changes. Life is ever-changing, and this means that, in a sense, wills and other estate planning documents are ever-changing as well. Significant life events often mean that it is wise for a Georgia reader to go back and assess where adjustments may be necessary.
One less-recognized reason for changing estate plans are changes in tax laws. If it has been a while since a person drafted his or her original plan, it may be necessary to look back and see how benefits, estate taxes and penalties have changed. Another common reason why it is necessary to go back and look at estate plans is when there is a death in the family, a divorce, a remarriage or new beneficiaries are born.
A person can go back and review his or her estate plans for any reason. One of the most important of these reasons is to ensure his or her loved ones are not left with unnecessary complications in the future. Out-of-date estate plans can lead to confusion, disputes and even the need for legal action simply to settle an estate.
Through proper estate planning, a Georgia reader can have a say over what happens to his or her property as well as any medical care he or she may or may not want to receive in the future. This can be accomplished through thoughtful and regularly updated wills and other types of documents. A person may want to start by seeking guidance regarding estate planning options.
