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Should you consider completing or updating an estate plan?

On Behalf of | Sep 2, 2021 | Estate Planning |

Formulating an estate plan in New Hampshire is an essential process you will likely want to consider to ensure your wealth gets distributed per your wishes. Life can move fast and be filled with several changes. If it has been several years since you completed the estate planning process, you may want to review your information to ensure it reflects your current wishes. Failing to do so can make it challenging and confusing to distribute your wealth when the time comes.

Should you consider completing or updating an estate plan?

Creating an estate plan is an important element to consider when you are accumulating a number of assets. However, it’s also essential to take time to review an older estate plan if it wasn’t completed recently. If you have purchased property or have made significant gains in the stock market changing your net worth, it’s probably best to provide an update. Doing so helps protect beneficiaries. Failing to decide who receives your assets when you aren’t here anymore leaves someone else in control of the decision, which may not be what you would choose. Over 50 percent of Americans die without an estate plan. Do you want to be one of them?

Taking the time to review your current plan or create a new one is recommended if you don’t want to leave your beneficiaries in the lurk. Nearly 49 percent of Americans believe they don’t have enough assets to complete the estate planning process. If you’re one of those individuals, you may be surprised how quickly the value can add up.

The statistics indicate a significant number of individuals just haven’t gotten around to completing a plan. If you’re one of them, your loved ones will have to take matters into their own hands, making decisions you may not have wanted.

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