[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.amorusolaw.com\/blog\/a-non-medical-check-up-for-your-estate-plan-white-plains-ny-new-york-ny\/#BlogPosting","mainEntityOfPage":"https:\/\/www.amorusolaw.com\/blog\/a-non-medical-check-up-for-your-estate-plan-white-plains-ny-new-york-ny\/","headline":"A Non-Medical Check Up \u2013 For Your Estate Plan","name":"A Non-Medical Check Up \u2013 For Your Estate Plan","description":"\u201cFor example, did you name someone as an heir who is no longer in favor with you or\u2014worse yet\u2014has died? Who should get what they would have gotten? Are there now new people in your life\u2014be they family members or not\u2014whom you might wish to share in what you may have?\u201d An estate plan isn\u2019t […]","datePublished":"2020-08-28","dateModified":"2024-03-14","author":{"@type":"Person","@id":"https:\/\/www.amorusolaw.com\/blog\/author\/amorusolaw\/#Person","name":"Amoruso & Amoruso, LLP","url":"https:\/\/www.amorusolaw.com\/blog\/author\/amorusolaw\/","identifier":5,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/12de032c04195e9c39a06a6d6eea182f7b4fa655c20e245f8094a244b5cdd0cb?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/12de032c04195e9c39a06a6d6eea182f7b4fa655c20e245f8094a244b5cdd0cb?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Amoruso & Amoruso, LLP","logo":{"@type":"ImageObject","@id":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/07\/amoruso-logo.svg","url":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/07\/amoruso-logo.svg","width":0,"height":0}},"image":{"@type":"ImageObject","@id":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/04\/6a01901dd0a082970b0263e95e7e95.jpg","url":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/04\/6a01901dd0a082970b0263e95e7e95.jpg","height":600,"width":900},"url":"https:\/\/www.amorusolaw.com\/blog\/a-non-medical-check-up-for-your-estate-plan-white-plains-ny-new-york-ny\/","about":["Coronavirus \/ COVID-19","Divorce","Estate Planning","Executor","Health Care Proxy","Inheritance","Power of Attorney \/ POA","Trusts","Will"],"wordCount":612,"keywords":["COVID-19","Divorce","Estate Planning","Executor","Health Care Proxy","Inheritance","Power of Attorney","Trusts","Will"],"articleBody":"\u201cFor example, did you name someone as an heir who is no longer in favor with you or\u2014worse yet\u2014has died? Who should get what they would have gotten? Are there now new people in your life\u2014be they family members or not\u2014whom you might wish to share in what you may have?\u201dAn estate plan isn\u2019t just for you\u2014it\u2019s for those you love. It should include a will and possibly, trusts, a power of attorney for financial affairs and a health care proxy. As many as 60% of all Americans don\u2019t have a will. However, the COVID-19 crisis has highlighted for everyone the need to have those documents. For those who have an estate plan, the need for a tune-up has become very clear, says the article “Time for a non-medical checkup? Review your will” from the Pittsburgh Post-Gazette.With any significant change in your life, a review of your estate plan is in order. Keep in mind that none of your estate planning documents are written in stone. They should be changed when your life does. COVID-19 has also changed many of our lives. Let\u2019s take a look at how.Has anyone you named as a beneficiary died, or become estranged from you? Will everyone who is a beneficiary in your current estate plan still receive what you had wanted them to receive? Are there new people in your life, family members or otherwise, with whom you want to share your legacy?The same applies to the person you selected as your executor. As you have aged over the years, so have they. Are they still alive? Are they still geographically available to serve as an executor? Do they still want to take on the responsibilities that come with this role? Family members or trusted friends move, marry, or make other changes in their lives that could cause you to change your mind about their role.Over time, you may want to change your wishes for your children, or other beneficiaries. Maybe ten years ago you wanted to give everyone an equal share of an inheritance, but perhaps circumstances have changed. Maybe one child has had career success and is a high-income earner, while another child is working for a non-profit and barely getting by. Do you want to give them the same share?Here\u2019s another thought\u2014if your children have become young adults (in the wink of an eye!), do you want them to receive a large inheritance when they are young adults, or would you want to have some control over when they inherit? Some people stagger inheritances through the use of trusts, and let their children receive significant funds when they reach certain ages, accomplishments or milestones.Have you or your children been divorced, since your estate plan was last reviewed? In that case, you really need to get that appointment with an estate planning attorney! Do you want your prior spouse to have the same inheritance they did when you were happily married? If your children are married to people you aren\u2019t sure about, or if they are divorced, do you want to use estate planning to protect their inheritance? That is another function of estate planning.Taking out your estate plan and reviewing it is always a good idea. There may be no need for any changes\u2014or you may need to do a major overhaul. Either way, it is better to know what needs to be done and take care of it, especially during uncertain times like the one we are experiencing right now.Reference: Pittsburgh Post-Gazette (July 27, 2020) “Time for a non-medical checkup? Review your will“"},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Blog","item":"https:\/\/www.amorusolaw.com\/blog\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"A Non-Medical Check Up \u2013 For Your Estate Plan","item":"https:\/\/www.amorusolaw.com\/blog\/a-non-medical-check-up-for-your-estate-plan-white-plains-ny-new-york-ny\/#breadcrumbitem"}]}]