Update your Documents – Don’t accidentally leave anyone out – or in!

Yesterday azcentral ran an Estate Planning special by  Louis A. Silverman of Silverman Patton, PLLC in Tempe , regarding what your options are if you’ve been disinherited  – accidentally (or purposely) left out of mom’s will. While he discusses in depth what instances may make a Last Will and Testamen t contestable, the article brings up two other very important points:

Honestly, I have to admit I have clients disinherit their children pretty frequently; I’d say at least once a week. It’s never because their children are hateful, horrible individuals that are undeserving. It’s normally for one of two reasons and my clients are usually pretty heartbroken over it. First, they have simply not kept in touch and tried to keep up the relationship for one reason or another. Next, the heir either doesn’t need the money or wouldn’t be able to handle the money. Both reasons always involve very big emotional discussions hoping to do the right thing. Frequently clients come in at a later date and amend their disinherit clauses based on an evolving relationship with their children and grandchildren. Life happens. People make up, people get divorced, life changes.

Update your Documents to reflect any changes in your life!

The Azcentral article states that the mother and son had made up and she planned to update her documents so her son would inherit an equal share of the estate. Problem is, she didn’t. Unfortunately we see this all the time! Clients mean to change their wills , they were supposed to put the new house in the trust , they were going to update their Durable Power of Attorney Documents , they were planning on changing their bank account s – but then life got in the way and nothing was handled. So the documents that were intended to clarify things and make everything easy when they were needed just end up causing a big mess for everyone.

Documents need to be reviewed and updated annually. Some buy a trust and then purchase a new home, new car, and open a new bank account, never put anything in the trust or have the trust updated, and then everything has to go through probate. We urge our clients to come in once a year for a review to make sure everything is in order. We understand people are going to get married or divorced, buy and sell assets, gain kids and grand kids, move residences, change banks or lose family members. As your life changes, your documents need to as well.

At Signature Documents we offer free reviews. Call today to set up and appointment. If you haven’t updated your documents in over a year, it might be a good time to look at them! We’ve seen client’s accidentally leave money to ex-spouses or ex-son-in-laws or forget to add a favorite grand child! Don’t let this happen to you!

Louis A. Silverman ‘s full article on Azcentral.com can be found here:

What to do (if anything) when mom’s will leaves you short

Disinherit Clauses start at $150.00 at Signature Documents. Contact us today to ensure that your documents are in order! 623-974-2272

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