Questions to Ask in Order to Evaluate Your Estate Plan Before 2020

Estate planning is an important process to ensure your assets are given to whom you intend. Our estate planning attorney in Camden County, MO knows how vital this step is to keeping your estate out of probate. It can take quite a bit of time and financial resources to work through the probate process and one goal of an estate plan is usually to help avoid that extra step. Below, you’ll find a few things you’ll want to check over to ensure your estate plan is ready for the new year.

Do you have an estate plan?

Having an estate plan is a major step toward ensuring your assets stay out of probate. If you don’t already have one, now is a good time to get one in place.  The estate planning process can be emotional for some, but for most people there is a sense of taking the burden off of their family which is accompanied by a feeling of relief and sense of accomplishment. 

Have you been through a major life change recently? 

A new marriage, birth of a child, a divorce, new home, different car, a promotion with a 401K - these are all very important life events. These types of changes can also create the need to update your estate plan. If you’ve had a major life change in 2019, now’s the time to ensure your estate plan is up to date and accurate.

Are your heirs up to date?

Things change and people change. Sometimes that means someone who once was on your list of beneficiaries to inherit should not be on there anymore. It’s important to take a few moments to review your estate plan periodically to ensure your intended loved ones really are in a position to receive your assets.

Are your estate plan documents in a safe and easily accessible location?

Having an estate plan is an important first step, but making sure they are kept in a safe place in the event of tornado, fire or flood is also important.  When identifying a safe location for your documents, such as a safe deposit box of fire and water resistant safe,  be sure that someone other than yourself knows they are there and can access them. Take a moment as we approach the end of the year to ensure your documents are stored appropriately. 

These questions can help guide you to making any needed updates or changes to your estate plan near the Lake of the Ozarks. Help protect your assets and ensure the intended beneficiaries receive your assets when the time comes for them to be passed along. O’Donnell Law Center helps many families comfortably and easily work through the estate planning process.

We Carry Your Burden ~ You Carry On With Life.

Disclaimer: No attorney-client relationship is created by the publication of this blog.

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Phone: (573) 552-0317

O'Donnell Law Center, LLC
1026 Palisades Blvd. Suite 3
Osage Beach, MO  65065


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