Robert D. Kaplow’s “Clean Up Your Estate Plan” in Detroit Public Television’s Signal Magazine
While doing your winter clean up, remember to also clean up your estate plan.
You may have executed an estate plan years ago. (If you have not prepared an estate plan, you should do so. If you do not have a will or a trust, state law determines who will inherit your assets, which may be different than what you would have provided in your estate plan.) You probably have had beneficiaries born or died or divorced. Are the trustees or personal representatives that you appointed in your documents still individuals or trust companies that you deal with? Have they now become aged and should no longer have the responsibility entailed in being a personal representative (executor) or trustee? What about people you named as guardians for your minor children?
Review the checklist featured in Detroit Public Television’s Signal Magazine
Read Kaplow’s full article for additional details