This is an article from the law firm of Morris Hall, PLLC (https://morristrust.com/) in Phoenix, Arizona, that we thought others may find helpful.
Every 6 months, it is recommend that you visit your dentist. I have done this for as long as I can remember, and have taught my kids to do the same. I have never enjoyed going, but understand the importance of it and going regularly. Having them cleaned, checked out, and x-rayed from time to time, helps to catch any issues that might be cropping up. It is always a good day to walk out of the office with a high five from my dentist and no cavities.
So, why would I think about my estate plan while at the dentist? How could they possibly be related?
There are more similarities than the average person may think. I realized a few years ago that an estate plan was not about how much money you might have, or your age in life. But more so about planning and taking care of the important things in my life. Just like I take care of my teeth, I want to take care of my family in the event that I am unable to.
So, I set up a plan. It details out all of the things that I want to have happen in the event I am unable to make decisions or I am no longer around. Whew. Got that off of my plate. But the second miss-conception is that once I have a plan done, there is no other work needed. I found out quickly that this is not the case.
Just like the visit to the dentist every 6 months, my estate plan also needs to be reviewed. While it is not always fun to talk about my own death or what might happen, being in control of the decisions that need to be made in that event, gives me the peace of mind I need. Who knows better than myself? Also, things change. Since plan was first created, my children have grown, I might have moved, or have accumulated a new retirement plan – my wishes might change. So, every couple of years, I visit with my estate planning attorney and my plan gets a “checkup”.
Getting a regular review follows the same path as taking care of my teeth, but less painful than having a having a new filling because I didn’t brush properly.