Thinking about what will happen in the event of your incapacitation can be a daunting prospect. For this reason, people often swiftly create a will and forget about it. Sometimes, a person may even put off estate planning altogether.
The reality is that estate planning is one of the most important legal aspects to consider in life. Knowing what will happen with your belongings in the event of your death can offer your family security as well as bring invaluable peace of mind to you. Outlined below are some of the key reasons why you should keep your estate plan up to date.
Your relationships
Have you just entered a marriage or left a previous relationship behind you? In either case, it is vital to have an estate plan that reflects your current circumstances.
Not having clear instructions means that the allocation of your assets could be left in the hands of the courts. They may not settle matters in the way you had desired. Ensuring you update your estate plan means that the people you truly cherish will be looked after. It will also protect your estate from any unexpected legal challenges.
Have you started a new business?
Whether expanding a business or selling it, you need to make sure that this is factored into your estate plan. You have most likely worked extremely hard to get where you are today, and it is crucial that your loved ones benefit from this legacy.
Estate planning is not a singular event. You need to make sure that you adapt it to your changing family dynamic. Gaining a firm understanding of your legal rights in New Hampshire could help to ensure that your final wishes are met.
