Review Your Estate Plan during National Preparedness Month in September

Each September, National Preparedness Month serves as a nationwide reminder to take proactive steps to protect yourself, your loved ones, and your community against disasters and emergencies. While many people associate preparedness with stocking up on supplies or planning evacuation routes, it is equally important to ensure that your legal and financial affairs are in order, making it the perfect opportunity to review and revise your estate plan as part of your overall preparedness strategy. Because things like natural disasters and medical emergencies can strike without warning you always need an updated estate plan in place to protect your assets, communicate your wishes, and provide clarity for your loved ones. With that in mind, the Essex Junction attorneys at Unsworth LaPlante, PLLC encourage you to review your estate plan during National Preparedness Month this September.

The Connection Between National Preparedness Month and Estate Planning

Since 2004, September has been designated as National Preparedness Month in the U.S. This September, it is important to remember that preparedness is about more than physical safety. It is also about ensuring your family’s future is protected from the legal and financial challenges that can arise when something happens to you because disasters and emergencies can lead to sudden incapacity, relocation, or loss of property. Without an updated estate plan, your loved ones could face unnecessary delays, expenses, and legal complications during an already stressful time. National Preparedness Month is intended to encourage individuals and families to assess risks and make plans in advance to ensure that they are ready should an emergency or disaster strike. Just as you would assemble a supply kit or map out an emergency escape route, however, you should also make certain that your estate plan is current and ready to serve its purpose. Reviewing your estate plan in September provides a built-in annual reminder to address both short-term and long-term preparedness needs.

Reasons to Review Your Estate Plan During National Preparedness Month

Estate planning should not be considered a one-time task. Instead, you should view your estate plan as something that evolves right allow with you and your family. Consider a few of the many reasons why you should review your estate plan during National Preparedness Month:

• Life Changes Since Your Last Review: Over the course of a year, many changes can occur that impact your estate plan. Marriage, divorce, the birth of a child, the death of a loved one, or a change in your financial circumstances can all require updates to your Will, trust, or beneficiary designations.
• Changes in Law: Both federal and state laws governing taxes, probate, and asset protection can change over time. If you have not reviewed your plan recently, it may not comply with current laws or may miss opportunities for tax savings and asset preservation.
• Asset Updates: You may have acquired new property, investments, or business interests that need to be included in your estate plan, or you may need to remove assets you no longer own.
• Emergency Healthcare Planning: National Preparedness Month is an ideal time to check your Living Will, Health Care Power of Attorney, and HIPAA releases to ensure that someone you trust can make medical decisions on your behalf if you become incapacitated.

Estate Planning as Part of Your Emergency Readiness Plan

While reviewing your estate plan, think about it in the same way you would think of an emergency kit because both are tools designed to protect you and your loved ones when things go wrong. Just as a well-stocked kit contains food, water, and first aid supplies, a well-prepared estate plan should likely contain:

• A valid and up-to-date Last Will and Testament
• One or more trust agreements
• Financial Powers of Attorney
• Health Care Power of Attorney
• Living Will
• Updated beneficiary designations
• Letter of Instructions

Taking time this September to review and revise your estate plan alongside other preparedness measures can significantly improve your resilience to unexpected challenges.

Can We Help You Review Your Estate Plan for National Preparedness Month?

For more information, please attend one of our upcoming FREE webinars. If you would like to review and update your Vermont estate plan during National Preparedness Month this September, contact an experienced Essex Junction estate planning attorney at Unsworth LaPlante, PLLC by calling 802-879-7133 to schedule your appointment today.