Keeping Up With the Changes
These days there is no shortage of information available about financial and estate planning. Much of it promotes the need to take specific actions, such as making an estate plan, planning for retirement or investing wisely.
As time goes on, it is possible for many changes to occur that affect plans you have made for your long-term economic security, that of your loved ones and others you wish to benefit. Although these are important changes to keep in mind as you plan, remember they are only the beginning.
Time for an update?
Has it been some time since you updated your long-range financial plans? Even the most comprehensive plans can become inadequate over time.
Many of life’s milestones can affect your will, living trust or other estate planning tools. The birth of a child or grandchild could be one example, relocation to another state or a change in your financial situation would be others.
Estate plans should reflect your thoughts, desires and financial picture at a given time. Whenever your circumstances change, so should the documents that mirror them.
Fine-tune your plans
Regular reviews of your long-range plans are the best way to make sure your arrangements are up to date and meet your current goals. Fortunately, most changes can be anticipated and addressed through careful preparations.
Read on to learn how you and your loved ones can benefit from thoughtful planning. We hope you will find this information helpful. Please let us know if we can answer any questions you or your advisors may have about the charitable aspects of your plans.
The purpose of this publication is to provide general gift, estate, and financial planning information. It is not intended as legal, accounting, or ot professional advice. For assistance in planning charitable gifts with tax and ot financial implications, the services of appropriate advisors should be obtained. Consult with an attorney for advice if your plans require revision of a will or ot legal document. Tax deductions vary based on applicable federal discount rates, which can change on a monthly basis. Some opportunities may not be available in all states.