Generally speaking, there are three reasons whey plans should be updated on an approximate five-year cycle:
- Changes in law, including tax laws
- Changes in family situation
- Changes in financial position
QUESTION: WHAT IS PLANNING?
ANSWER: Planning occurs when you proactively state your wishes about who you want to receive your assets when you pass away. This can be done through joint ownership, beneficiary designations, wills and/or trusts.
QUESTION: WHAT HAPPENS WHEN YOU DON’T PLAN FOR YOUR ESTATE AFTER YOU DIE?
ANSWER: The State of NH plans for you.
Read the full article for examples of the State's planning...