Living in Colorado, Jack and Emily had always been focused on the next adventure. Whether it was backpacking through the mountains or exploring new trails, estate planning had never crossed their minds until their youngest son, Ben, was born. They quickly realized that their estate plan, created when they first got married, was outdated.
“We didn’t even think about how much had changed,” Emily admitted. “Our lives are so different now.”
They contacted Skipton Reynolds to review their estate plan, and it didn’t take long to see just how much they had overlooked. Their original plan didn’t include Ben, nor did it account for their growing assets. Like many Colorado families, their lives had evolved, but their estate plan had not.
Skipton walked them through the updates they needed:
Adding Their New Child: Their original will didn’t include Ben, which meant he wouldn’t have been properly provided for. Skipton helped them revise their will to include him as a beneficiary and appoint guardians for all their children.
Adjusting for Financial Growth: Over the years, Jack and Emily’s assets had grown substantially. Skipton advised setting up a trust to protect their wealth and ensure it was passed down smoothly to their children.
Updating Legal Documents: Their powers of attorney and healthcare directives were also outdated. Skipton helped them revise these to reflect their current wishes and make sure they had the right people in place to make decisions if needed.
After their review, Jack and Emily felt a renewed sense of security, knowing their estate plan reflected their current life.
If it’s been a while since you last reviewed your estate plan, don’t wait. Life changes, and your estate plan should, too. Register for a workshop here or schedule a consultation to ensure your plan is up to date.