Unfortunately, the person that you have named the first time you created your estate plan may not be able to fulfill those responsibilities. For example, they may have aged to the point they are just not capable to act in this important role, or they have passed away. It is also possible that you are just not as close to that person anymore or that you feel another person is better suited to take care of your needs.
Do you wonder where to start? Each time you look over your estate plan look at who you named as your trustee. Is he or she fiscally responsible? Can this person make decisions as you would? Do you still feel that person is the best one to take care of your affairs? If you do, great. If you do not, however, it is important to talk to your estate planning attorney and update the person that you have named.
As you go through your life you want to pay attention to who you find to be the most important in your life. When it comes to your estate planning remember to keep in mind both who you feel the most comfortable with and who do you believe will look out for your best interests if something were to happen to you. Keep in mind that your trustee does not need to be your partner, your parent, your sibling or even a relative at all. It can be a friend if he or she is someone that you trust to take care of what you need.
Are you ready to update your estate plan? If you are, then make sure you contact us. We can help you create your first estate plan or we can help you change it, whenever and however you need. Our team is ready and waiting to help you.