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20 Red Flags That Signal When Your Will or Powers of Attorney are Out of Date

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20 Red Flags That Signal When Your Will or Powers of Attorney are Out of Date

Changes Involving You or Your Spouse

  1. You get married.
  2. You and your spouse divorce.
  3. Your spouse dies or becomes incapacitated.
  4. Your health changes.

Changes Involving Your Children, Grandchildren or Other Beneficiaries

  1. You have a child.
  2. You adopt a child.
  3. Your child marries.
  4. Your child divorces.
  5. Your child becomes ill.
  6. One of your beneficiaries experiences an economic change, good or bad.
  7. One of your beneficiaries proves to be financially irresponsible.
  8. One of your beneficiaries has a change in attitude toward you.

Changes in Your Economic Condition

  1. The value of your assets increases or decreases.
  2. Your insurability for life insurance changes.
  3. Your employment changes.
  4. Your business interests change, such as becoming involved in a new partner­ship or corpora­tion.
  5. You retire from your business or profession.
  6. You acquire property in a different state.
  7. You move to a different state.

Changes to a Person Named in Your Estate Plan

  1. Something happens to a person named in your estate plan, such as the death or incapacity of your personal representative, executor, trustee, guardian or conservator.

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Parker & Company
Barristers & Solicitors
830 Mount Pleasant Road
Toronto, Ontario M4P 2L3
Tel:  (416) 322-3370
Fax: (416) 322-7153

parkerandcompany@parkercompany.ca
www.parkercompany.ca

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