Thursday, November 14, 2013

Keep Estate Planning Documents Current

By Harry J. Lenaburg, Esq.

Sometimes it takes a near tragedy to remind one how important it is to maintain your Estate Planning documents, with the most current information.  Suppose you had named your son as executor of your Will or as the individual with decision making authority under your Medical Power of Attorney.  On active duty in the military, that son is honorably serving us all overseas.

In a medical emergency your appointed agent is unavailable.  The remedy for this dilemma is to appoint an alternate executor or agent.  The language is simple, “In the event X is unable or unwilling to act as my (attorney in fact/agent/executor for example) I hereby appoint Y as my . . .

It is essential that you plan for contingencies.  If your estate planning documents are old, or the situation has changed (for example children were minors when you prepared your Will, and are now in their 20’s or 30’s)  I urge you to speak with an experienced Estate Planning Attorney to discuss your options, and modify any Estate Planning documents that should be updated.

The Law Firm of Jessica M. Cotter, P.L.L.C.
18301 North 79th Avenue, Suite F-168
Glendale, Arizona 85308

No comments:

Post a Comment