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Estate Planning Around the Holiday Table?!

Periodically, I will see articles highlighting what a great opportunity the holidays are for discussing your estate plan. The idea is that with all the family together, let’s be on the same page about mom and dad’s wishes. I imagine someone passing the mashed potatoes and being asked if they would be willing to serve as a healthcare power of attorney. I’m sure that’s not the way it was intended, but I often wonder if this is really the best place to dig into estate planning.

If the thought of bringing up estate planning during the holidays sounds horrifying, don’t worry, it does to me too. But the holidays do give us an opportunity to do a mental assessment of the viability of our current plans.

Circumstances change and there are plenty of good reasons to make changes to your estate planning documents.  Consider –

  • Are the people I’ve appointed to serve on behalf of myself and my estate (executors, trustees, powers of attorney, etc.) still able and willing to serve?
  • Is the distribution of my estate still the best approach given my children’s ages and life circumstances?
  • Has my family structure changed through death, divorce, or a new child or spouse?
  • Does my family know where my documents are located and that they’ve been appointed to serve?
  • Are there charitable organizations that I would like to include in my estate plan?

Enjoy the holidays!  Don’t fret over estate plans, but take time to notice what might need to change. 

Schedule a time for a review in January or February when it’s too cold to do anything else!

Any opinions are those of Landon Vick and not necessarily those of RJFS or Raymond James. The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete; it is not a statement of all available data necessary for making an investment decision and it does not constitute a recommendation. Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional. Be sure to contact a qualified professional regarding your particular situation before making any investment or withdrawal decisions. 

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