Do you know when your drivers license expires? Do you have a Qualified Domestic Relations Order, or even know why one is necessary? Don’t roll the dice on your legal security! Take these steps now to avoid costly legal problems later.
- Do you know when your driver’s license will expire? Pull it out of your wallet right now and put a reminder on your calendar four weeks before the expiration date.
- Make sure each of your vehicles has a current copy of your insurance card and registration papers. If you have a Health Care Directive, put a copy of that in your glove box, too.
- Do you share custody of your children with a former spouse or partner? Take a moment to make sure you each have current contact information for each other and update school, day care and medical records accordingly.
- If protective orders exist, make sure schools and day care providers have copies and understand the restrictions.
- When was the last time you reviewed your estate plan? Have you experienced life events since its creation? This includes durable power of attorney documents, health care directives, wills and trusts. Check the beneficiary designations on accounts and insurance policies to make sure they coincide with your other documents. (Seek legal advice before making any changes.)
- If you have children transitioning to adulthood, it’s time to consider health care directives and power of attorney documents for them as well.
- If you are contemplating a marriage, sit down with your financial planner or tax advisor and review your financial picture. Find out the potential consequences of merging your financial lives and what options are available. Pre-nuptial agreements are useful tools for avoiding unintended consequences in the event of divorce or death.
- Did your decree of divorce divide a retirement plan? Make sure you have a Qualified Domestic Relations Order signed by the court and approved by the plan administrator.
Kirsten Larsen is a licensed attorney in Kansas and Missouri. She owns a boutique practice in Overland Park, Kansas, focused on Life and Estate Planning, including the preparation of wills, trusts, power of attorney documents, DNRs, and prenuptial agreements. She offers flat fee pricing and subscription services. This material is for informational purposes only and does not constitute legal advice. Please call (816) 550-0644 for more information or email Kirsten.
Kirsten is an Ambassador of the Overland Park Chapter of Linking Professionals Networking Organization.