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8 Items for Your Estate Plan Modification To-Do List. As we age and our lives change, so do our estate planning needs. The plan that was most effective for your family 10 years ago, may be not be as ideal today. One area that frequently comes up as an area of importance later in life is the issue of long-term care. You may have specific goals or wishes that concern your quality of life and financial well-being as you enter the final stages of life. An estate plan modification can help you to meet these goals.

Eight Steps for Modifying Your Estate Plan Due to Aging

As part of the estate planning update process, your attorney may advise you to take several steps. The following is an overview of actions to take as you update your estate plan due to aging:

  1. Add or update a revocable living trust.
  2. Update your will if your original choices for backup executors or personal representatives are no longer available.
  3. Keep your advanced directive current. This important document addresses your choices for end-of-life care. As we age, these choices may change over time.
  4. Consider meeting with an attorney who can discuss with you various options for asset protection planning if you do not have long-term care insurance.
  5. If it is affordable and available, consider meeting with an insurance advisor to discuss long-term care insurance.
  6. Update your durable power of attorney to ensure that your named attorney is still available.
  7. Review your current life insurance holdings to ensure that they are still adequate.
  8. Consider planning for funeral or burial services.

8 Items for Your Estate Plan Modification To-Do List. While these are some of the common steps that apply to an estate planning update for an aging individual, every situation is unique and requires its own customized action plan. We have helped countless clients just like you to ensure that their current estate plan is brought up to date. To learn more about the experiences of our other clients, we encourage you to view our client testimonials page today.

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Due to the CoVid19 virus California has issued a Stay-at-Home order. We understand how important the health and safety of our clients, and our staff is. We are complying with this order by continuing to work from our homes. While we are not in the office, we are still here to answer your questions, conducting consultations for review, and initial appointments by phone and email during normal business hours. We know that in this time, more than ever, it is important to have peace of mind about your estate planning. We are here to help you through this. Call our office number or email us and we will respond as quickly as possible.