By Lane V. Erickson, Idaho Estate Planning Attorney
With the coronavirus pandemic raging throughout the world and in the United States I have had several clients talk to me about whether they should update their estate planning documents. It’s a wonderful question and it’s one that should be asked regularly by any individual who has their estate planning done. The reason for this is that life simply doesn’t stand still.
What I mean by this is that life is ever-changing. Our job, our marriage, or children, where we live, can all change very quickly. I usually suggest to my clients that they review their estate planning documents anytime they have gone through a major life change, or if nothing significant has changed in their lives they should review their estate plan every 5 years at least.
Any major life change could have an impact on your estate plan. A major life change includes someone being born, someone dying, a marriage, a divorce, and you or someone else moving away. If any of these things have happened to your family or loved ones, and you review your estate plan, you will see immediately if any changes or updates are needed.
For example, suppose you are married, and you have a written last will and testament. In your will, you have named your spouse as your personal representative and as the person who will receive your estate if you are to pass away. Now suppose that after getting your written will completed, you are either divorced, or your spouse passes away.
This example illustrates how reviewing your written estate plan often will help you know if a change is needed. With this example, if you are divorced or your spouse has passed away, this is a significant major life change. You will need to update your estate plan so bad it accomplishes what you needed to do now rather than what you had it prepared to accomplish before.
The coronavirus pandemic has been a triggering event for many people in their lives. This is true when it comes to estate planning. Individuals who didn’t give much thought to having an estate plan in the first place or now working to get one done quickly. Additionally, those who already have a written estate plan or reviewing them to see if they need to be updated or if any changes are needed.
We are ready to help. As the premier Idaho estate planning law firm, we have assisted clients for over 70 years in preparing and updating their estate planning documents. We start by providing a free Estate Planning Questionnaire to our clients that helps them collect all the information they need to complete their estate plan. This free Questionnaire, which you can download from our website, provides a good deal of information to our clients to educate them about the decisions and choices that they will need to think about. It also helps our clients collect relevant information about their children, spouses, and other family members or loved ones that they want or need to have included as part of their estate plan.
Once the free Questionnaire is completed, we then provide a free 30-minute consultation where we meet with our clients and go over the information in the questionnaire. This free consultation gives us a chance to ask questions and to answer the questions that our clients have about their own personal estate planning. We found that providing these services for free to our clients they are much more likely to take the time to gather the information needed to customize their own estate plans
Contact us today and let us help you get started on the path of completing your estate plan.
ENLIST AN IDAHO ESTATE PLANNING ATTORNEY TO HELP YOU
If you have any questions about your estate or how to simplify your plans for your family and loved ones, we can help. Call us toll free at 877-232-6101 or 208-232-6101 for a free consultation with Lane Erickson and the Racine Olson team of Estate Planning attorneys in Pocatello. You can also email Lane Erickson directly at firstname.lastname@example.org. We will answer your questions and will help you solve your Pocatello Estate Planning problems. I have helped numerous clients create their own customized estate plans and I’m confident that I can help you too!