If your plan is not getting updated when your assets, family situation, and the laws change, your plan could be worthless. What is more, failing to update your plan can create its own set of problems that can leave your family worse off than if you had never created a plan at all.
Read MoreIt feels like a lifetime ago that I reported how the deaths of NBA legend Kobe Bryant (Kobe) and his 13-year-old daughter, Gianna, in a helicopter crash demonstrated the vital need for estate planning for people of all ages. Since then, court filings made by Kobe’s widow have shed light on both the successes and failures of Kobe’s estate planning efforts.
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