Some warning signs that indicate you need to update or review your estate planning documents
You have no estate plan!
You have moved to North Carolina from another state or country.
Your family changes – births, deaths, adoptions, marriages, engagements (think prenuptial agreements) and divorces.
You separate from your spouse or are divorced.
You or your spouse is terminally ill, incapacitated or needs long term care.
Your estate plan has not been reviewed in five years, or you hear about a new tax change.
Emerging needs of beneficiaries due to illness, death, disability or changes in wealth.
Your planning involves “new” spouse and family members who are not the “new” spouse’s children.
Retirement benefits comprise significant portion of wealth.
You have not reviewed your beneficiary designations for retirement benefits or life insurance.
You plan to buy or sell a business (don’t wait until sale takes place!).
You have no written plan for your business on your death or retirement, you need to change the existing plan, or you do not understand the plan.
You desire to make major lifetime gifts.
Your assets change (purchase or sale of real estate, purchase any property in another state or country, current or anticipated appreciation in particular assets).
You receive an inheritance, or expect to receive an inheritance soon.
You plan to purchase life insurance.
Your family limited partnership or LLC has not been recently reviewed.
You decide to add or make changes to a charitable beneficiary’s share.
Some warning signs that indicate you need to update or review your estate planning documents