In many cases, existing documents can be updated without starting over. For example, a will can be replaced with a new will, and some trusts can be amended or restated. The right approach depends on your goals and the current condition of your documents. An estate … [Read more...] about Can I update my estate plan without starting over?
Outdated Documents FAQs
How do I know if my trust is outdated?
You may want to review your trust if: A review can help determine whether amendments or a full restatement are appropriate. … [Read more...] about How do I know if my trust is outdated?
Do changes in tax laws affect my estate plan?
Yes, certain trust arrangements and strategies can be affected by changes in federal or Massachusetts tax rules. Not every law change requires updates, but periodic reviews can help confirm your documents still work as intended. … [Read more...] about Do changes in tax laws affect my estate plan?
What happens if my named executor has passed away?
If the person you named as personal representative has died or can’t serve, the court will look for any alternate you listed in your will. If no alternate is listed, the court may appoint someone under Massachusetts law. This can delay the process and may result in … [Read more...] about What happens if my named executor has passed away?
Can outdated beneficiary designations override my will?
Yes. Even if your will says something different, beneficiary designations on accounts such as IRAs, 401(k)s, and life insurance policies usually control who receives those assets. If these designations are outdated, the wrong person could receive those assets. To … [Read more...] about Can outdated beneficiary designations override my will?
What documents are most commonly outdated?
The following documents frequently need review approximately every three years: … [Read more...] about What documents are most commonly outdated?