While it is always a good decision to prepare an Estate Plan, there are times in our lives in which obtaining an Estate Plan is imperative. In addition, many think that once the Estate Plan has been created, they can lock it away, never to be seen again. However our lives are ever changing. Therefore, periodic reviews of Estate Plans are vital. Estate Plans should be reviewed every 3 to 5 years and updated upon occurrences of certain events of our lives.
Many people in Indiana believe that they do not need an Estate Plan for one reason or another. However, the vast majority of the time, the reasons given for not having or preparing an Estate Plan are in fact untrue and an Estate Plan should be prepared. Below is a list of examples of myths as to why people believe that they do not need an Estate Plan
In times where we are seeing more and more diagnoses for Alzheimer’s and Dementia, families need guidance in what to do in the event a loved one is diagnosed with either disease. Legally speaking, upon a diagnosis, the family should contact an attorney to obtain a Power of Attorney for the beloved family member.
Many of us know someone who has been diagnosed with Alzheimer’s disease or the family members who are also affected by this disease. Sometimes the disease progresses much more rapidly than originally anticipated. So if this situation affects you or your loved one, decisions regarding finances and healthcare must be made quickly.
Have you made sure that your business is ready and your personal assets are protected in case of economic downturn or disgruntled employees? Are you hoping to be able to retire in the next 10 to 15 years?