Another Time to Update Your Estate Plan

I am frequently asked: “When should I update my estate plan?”  Normally, the first answer is anytime you have a major life change such as a marriage, child, divorce, etc.  One of the most significant events isn’t really an “event” at all but something that often occurs in a more gradual manner.  That is the onset of Alzheimer’s disease or some other form of diminished cognitive ability.  Before you or a loved one loses the ability to make decisions and execute estate planning documents, you should update your Will, Powers of Attorney and Health Care Directives.  You should also take the opportunity to inform family members as to your health care wishes and desires and make sure those individuals selected to assist you know and understand their role and duties.

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