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If the global pandemic has encouraged you to reflect on your life and look forward to a fresh start post-quarantine, perhaps it should also prompt you to take a look at your estate plan. To ensure the plan you created still accomplishes your goals, consider these top seven reasons to update your estate plan and protect your legacy and loved ones:
If you are reading this article and do not have an estate plan, strongly consider speaking to an attorney. Without a will, Pennsylvania law dictates how your assets will be distributed, and it may not be what you expect. Additionally, a Power of Attorney and Advance Health Care Directive are essential documents for all adults, regardless of net worth.
Even though the COVID-19 pandemic did not make the top seven reasons to update your estate plan, it has certainly made the topic top of mind.
R. Nicholas Nanovic serves as Chair of Gross McGinley’s Wills, Trusts and Estates Group, providing leadership in estate planning and estate administration matters.