Preparing an estate plan is crucial and the first step to getting your affairs in order. However, once your estate plan is prepared, it’s not meant to sit and collect dust, only to be forgotten. Your estate plan needs to be reviewed to ensure your desires are still aligned with your life and the law.
Estate planning documents aren’t enforceable until they’ve been signed. Make sure all your documents have been properly executed, notarized, and witnessed, if applicable. Out of date or unsigned documents are the same as having no documents at all. Once they’re signed and up to date, put them in a safe place such as a fireproof safe, safe deposit box, or with a trusted attorney or advisor. Make sure a family member or close friend knows the whereabouts of these important documents.