Life Changes

I am back in the office after taking some time off with my new baby, Paul, who was born in November. Now that I am back in the swing of things, I will take the advice I often give my clients and update my own estate plan by adding Paul as a successor beneficiary (joining his siblings) on my life insurance policies and IRAs. I’ll also be updating my will.

If a person passes away failing to designate a child (or any other person) as a beneficiary to a retirement account or other investment account, the law would abide by what was decided in the past, no matter how many years ago. That person’s will, even if it were current, would not help.

If you have experienced a life change in your family (birth, marriage, death, divorce) since you’ve created or revised your estate plan, give us a call. Usually a revision to your estate plan is not very time consuming or costly and will definitely give you peace of mind.