In our last newsletter, Veronica provided some education on what a Last Will & Testament is, and just why it is so important. This holiday season, we would be remiss if we did not remind you of one of the most beautiful, important, and necessary gifts you can leave for the people you love the most – having a full, comprehensive estate plan in place. This includes your testamentary documents, meaning, the documents that take effect upon your death, like your Will and/or Revocable Trust, as well as your living documents, such as your Durable Power of Attorney and Healthcare Power of Attorney, so that people can step in your shoes should you be incapacitated and have the legal ability to make decisions and handle your affairs for you.
It is not just enough to have your documents in place – when is the last time you reviewed them to ensure they are still an accurate reflection of your wishes? Have you recently moved to Delaware from another state and have out-of-state documents in place? If you have a Trust, is it adequately funded, meaning, is all your real estate in Delaware and any other state titled in your Trust name? Do you have an easily accessible and accurate compilation of information together with all of your financial accounts (checking, saving, other investments), your life insurance policies, your recurring expenses, and more?
Torn as to what to get that loved one that has just about everything? Consider gifting them the true blessing of taking care of their family with an intake and signing appointments with our office to get their estate planning documents in place, or updated. Know a couple who recently tied the knot? A Kitchen-Aid mixer may only get a few uses a year, but having estate planning documents in place will benefit their family for generations to come.
