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How do I update an estate plan in North Carolina?

Major life events like marriage, divorce, a baby, job loss, or relocation are important times to revisit an estate plan. However, most people are unable to divide their attention during these busy or stressful times and updating their estate plan does not readily occur to them. update estate plan
To prevent missing a prime opportunity to update one’s estate plan, schedule regular reviews with a North Carolina estate planning lawyer. Before starting revisions to your estate plan, make sure you have copies of your current:

  • Will
  • Powers of attorney and advance healthcare directive
  • Trusts (Include specialized tools like pet trusts and gun trusts.)
  • Life insurance policies or statements (including beneficiary designations)
  • Retirement account statements (including beneficiary designations)

New legislation goes into effect in October 2013 that affects spousal rights to “elective shares” of their deceased partner’s estate. Learn more about this sliding scale for surviving spouses in North Carolina.

If you have an estate plan that may need to be revised, contact our estate planning lawyers in Chapel Hill. Gregory Herman-Giddens, principal of TrustCounsel, is a board-certified specialist in estate planning in North Carolina. Use the time when you update your estate plan to also learn about education trusts, elder law, and ways to avoid probate.