Spring cleaning doesn’t have to be just house cleaning but your legal documents as well. It’s a new year and a new you. Springtime is the perfect time to make sure that you have all your legal documents updated and in order. A lot can change in a year, and it never hurts to make sure that you are prepared for anything that might happen. Here are just a few things to get you started on your spring cleaning.
Nothing sneaks up on you faster than Tax Day. If you haven’t already now is the perfect time to get all your documents in order and ready to get your taxes done. With the recent tax law changes, it might be a good idea to speak with a tax professional to learn more about how the changes are going to affect you and your family. They will be able to go over what deductions and credits you will be able to take advantage of as well.
Update estate planning
The springtime is a good time to finally draft, review or update your estate planning documents, such as your Will, Power of Attorney, Living Will, and Trust. It a good idea to update these documents at least once a year, so you’re prepared for any new laws that have passed recently or new life events that have taken place such as getting married or divorced, or having a baby. If you don’t, your run the risk of having to pay more taxes on your estate, or unwittingly create inheritance disputes. Visit our Estate Planning Center for more help updating your estate plan.
Credit monitoring allows you to stay on top of your credit score and improve it over time. Your credit can be one of your greatest assets and possibly your biggest liability. Your credit rating also referred to as your credit score, is an estimate made by credit bureaus calculating your financial worthiness based upon your debt balances and payment past. Your credit score usually dictates your interest rates for your credit card and any loan you ever apply for, so it’s extremely important to monitor your rating and keep it high. You can request your credit score by using our letter to request a credit report. The letter will help to get a copy of your credit report from any of the three reporting agencies.
Most people don’t think twice about their life insurance policies until something happens and it is needed. It’s always a good idea to check your coverage at least once a year to make sure you are getting the best deal. A lot can change and you might find yourself wanting to increase or even decease what your current coverage is, or it is time to shop around for something more suitable for your needs.
Meet with a lawyer
Having a lawyer who you know and trust can make all the difference when you come up against a legal issue. When looking for an attorney, it’s smart to start out doing something preventative, like creating your estate plan, instead of frantically searching when you need a lawyer in an emergency. Rocket Lawyer can help you with that. We can get you connected with an attorney in your area for a consultation. If you are looking for an attorney to answer a quick question, you can try our Ask a Lawyer feature.