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Saturday, August 20, 2016

Saturday Finances—The Importance of Updating Your Estate Plan

Some really great tips from Kevin Ruth, Head of Wealth Planning and Personal Trust at Fidelity Investments



10 Common Pitfalls of an Outdated 
Estate Plan


Update your estate plan every three years
(or whenever major life circumstances change)

If you have a trust or a will, good job!  You got that far in creating an estate plan.  Most of us don't get around to it until a major life event forces us into it.  For me, it was becoming a successor trustee after my dad passed away in 2013.

After I closed my dad's trust a year later, I was compelled to put my own house in order.  I found a good estate attorney in town, and the following year, our family trust was finished.

It really is a great feeling to have it done!

The following article by Kevin Ruth from Fidelity Investments caught my eye because now that we have a trust, it is important to keep it up to date.

Dust off your estate plan: 10 common pitfalls to avoidby Kevin Ruth, Fidelity Viewpoints
3 August 2016


Kevin's article is excellent!  He includes some helpful links at the end.  Make a copy & discuss any concerns with your estate attorney.



• estate planning • is • a gift •

 
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