Seasons change . . . what else changes?
Although we are still solidly in triple digits, fall is upon us. For me, this fall brings a monumental change. My oldest daughter started college and is turning eighteen. As a result, the time has come for me to revise my family trust. Anytime things change in your business or family, you should consider updating your estate plan.
For example, changes in your personal life require a review of your estate plan. Have you recently married? Gotten divorced? Had a child?
Changes in your assets also require a review of your estate plan. If you have a trust, have you ensured that all your assets have been properly placed in the trust?
Finally, changes in your business require a review of your estate plan. If you have a partner or partners, you must make sure that your estate is properly represented in your business.
If you don't have an estate plan, it's not too late. If you do have one, make sure you revise it to address the changes in your life and circumstances.