If you’re reading this, you’re likely financially adulting which includes having your estate plan in place. Good on you!
….but, when was the last time you looked at it?
Financial Zen recently partnered with Wealth .com which is estate planning fintech.
It allows our Financial Zen Members to do all the important things like creating, amending and executing their estate plan FOR FREE!
(Actually, it’s more like on Financial Zen’s dime since we (happily) pay quite a bit for the subscription.)
But it also makes it super easy to complete that totally ambiguous and unhelpful recommendation to “review your estate plan regularly”.
April is our estate planning month, so we’ve done a bunch of reviews recently through Wealth.com
With most of them, it was just checking the boxes, but with a few, we uncovered some things that required further discussion.
For instance, one of our Members’ didn’t realize they had 5/6’s of their money going to the wife’s family and only 1/6 going to the husband’s.
Another Member didn’t realize they hadn’t updated their plan after their second daughter was born 3 years ago.
And another member had a bunch of money going to charities that no longer exist.
THE POINT?
If you haven’t looked at it in more than 12 months, dust off your estate plan and at minimum check your:
1. Beneficiaries
2. Successor Trustees
3. Powers-of-Attorney
4. Guardians
You put in all that work and spent all that money to get your estate plan in place.
Don’t let it grow into a landmine field of gotcha’s because you haven’t dusted it off in a while.
