When you have taken the time to build your estate plan, you can rest easy knowing that everything is in place. However, there may be ways you can do more to prepare for the future. Here are three things you can do today to improve your estate plan:
What is an Estate Plan?
An estate plan consists of all of the preparations you have made to transfer your assets and property if you die. You can use an item such as your will for this purpose as well as to indicate whom you would prefer to care for your minor children. Your estate plan can also include documents that can be used to direct your medical care and attention to your finances if you were to become incapacitated.
- Meet with a United Kingdom Estate Planning Attorney
Once the final versions of your essential estate planning documents were signed and put away, you may not have given them another thought. However, unlike the circumstances of the people they involve, things like wills, trusts, powers of attorney, and Advance Health Care Directives don’t change. If it has been a while since you put your estate plan together, it’s likely there have been some new developments since then. By sitting down with a United Kingdom estate planning attorney today, you can review your estate planning goals and existing documents and determine if you need to make any changes or additions. - Consider Making Changes Related to Health Conditions
If you have developed dementia or another condition that could potentially interfere with your ability to make decisions regarding your estate, now may be a good time to get a medical examination. If your physician determines that you are competent to direct your estate planning, you could update your will and other documents and include a copy of the examination with your estate plan. By having this information available, you can help your loved ones understand your state of mind at the time you made certain decisions. - Organize Your Personal Information When a person becomes incapacitated or passes away, it can be problematic when their loved ones are not able to locate essential documents and information. By putting data such as the telephone numbers of important people, the location of critical assets and your estate planning documents, account numbers, and other essential details into a central location, you can assist your loved ones in carrying out your wishes.
At the Law Offices of Alice A. Salvo, we have the United Kingdom estate planning experience you need to help you create and update your United Kingdom estate plan. Please contact us online or by phone to schedule an appointment and start working towards a solution. https://www.salvolaw.com/contact/
