Recently we’ve heard that NBA star Lamar Odom’s health issues have resulted in hospitalization and have temporarily incapacitated him. Due to the fact that his divorce from reality TV star Khloe Kardashian has not been finalized, and he apparently did not update his estate plan, it seems that his estranged wife remains the decision-maker when it comes to his health care, and perhaps even his finances.
Would you want your estranged spouse to be at the helm of crucial health care and financial matters if something happened to you? Would you be concerned that your soon-to-be ex-spouse may not take the appropriate care in these decisions, or may have conflicting interests about such matters?
This brings us to an important point: It is always wise to reconsider your estate plan whenever life brings changes that alter your family structure, your assets, or your wellness. Remember, a Living Trust is not just a set of documents to preserve your intent at death, it also ensures that the loved ones you trust will carry out your wishes during lifetime if you suffer a period of illness or incapacity.
Don’t let life’s twists and turns deter you from keeping your estate plan up to date. If you’ve experienced recent family changes, now is the time to revise your Living Trust, Will, Powers of Attorney, Guardianship and Advance Health Care Directive.
Contact us now to find out if you need to review and update your Living Trust or other documents.