What happens when someone you trusted enough to put in charge of important decisions is no longer someone you trust? Maybe a relationship has changed. Perhaps the person is dealing with financial problems, family conflict, health concerns, or circumstances that make you question whether they should still have such an important role in your future.
These situations can be uncomfortable to acknowledge, but ignoring them may create a much larger problem later. For individuals and families in Indiana and Michigan, reviewing the people named throughout an estate plan can be just as important as reviewing the assets and instructions contained within it.
The People in Your Estate Plan Have Different Responsibilities
It is easy to think of one person as the individual who will handle everything, but an estate plan may assign several different responsibilities.
Your last will and testament may name a personal representative to administer your estate after your death. A trust agreement may name a trustee to manage trust assets. A durable power of attorney may authorize an agent to handle financial and legal matters during your lifetime. Your health care planning documents may identify someone to participate in medical decisions if you cannot make or communicate those decisions yourself.
The person who is appropriate for one responsibility may not necessarily be the best choice for another.
Trust Is Only Part of the Decision
Choosing someone you love can feel natural, but affection alone does not necessarily make someone well suited for an important legal responsibility.
Consider whether the person is responsible, organized, willing to communicate with other family members, and capable of making difficult decisions. Geography, health, age, financial circumstances, and family relationships may also affect whether someone remains a practical choice.
A person who seemed ideal ten years ago may have a very different life today.
Pay Attention When Something Has Changed
Sometimes there is an obvious reason to reconsider someone named in an estate plan. A divorce, falling out, substance misuse, financial problems, cognitive decline, or serious family conflict may cause immediate concern.
Other changes can be less dramatic. Perhaps the person moved far away. Maybe responsibilities involving their own children or careers have become overwhelming. Someone may simply tell you that they no longer want the responsibility.
You do not necessarily need to wait for something to go wrong before reconsidering your choices.
Family Conflict Can Make an Existing Problem Worse
Estate and elder law matters can involve emotional decisions. If the person given authority already has a difficult relationship with other members of the family, that tension may become more significant during incapacity or after a death.
This does not mean every family disagreement requires that an estate plan be changed. It does mean that family dynamics deserve thoughtful consideration.
An experienced estate planning attorney can help you consider whether the people you have selected are likely to carry out your wishes responsibly and whether additional planning may help to reduce opportunities for future conflict.
Do Not Simply Cross Out a Name
If you decide someone should no longer serve in an important role, changing the plan should be handled properly.
Writing a different name on an existing document, crossing someone out, or assuming a verbal conversation will override signed estate planning documents can create uncertainty. Depending on the document and the changes needed, an amendment, restatement, new document, or other appropriate legal step may be necessary.
It is also important to review the entire estate plan when making a change. The same individual may be named in several documents. Replacing that person in one place may not address every role they hold.
Consider Your Backup Choices Too
Your first choice deserves attention, but so do the people named to serve if that individual cannot or will not act.
Successor agents, trustees, personal representatives, and other backup decision makers may eventually become responsible for important matters. Reviewing these choices can help ensure that your plan still provides a workable path forward, if your first choice is unavailable.
This is one reason periodic estate plan reviews can be valuable. You are not only checking what your documents say. You are also asking whether the plan still makes sense for the life and relationships you have today.
You Are Allowed to Change Your Mind
People sometimes hesitate to make changes because they worry about hurting someone’s feelings. Your estate plan, however, should be designed around your needs, wishes, and protection.
Changing the person named in a position of responsibility does not necessarily mean that the person is bad or that the relationship no longer matters. It may simply mean that someone else is now better suited for the responsibility.
The important question is not whether your original decision was wrong. It is whether you would make the same decision today.
If you are no longer comfortable with someone named in your estate plan, you do not have to wait until a problem develops to address it. VanderVeen Elder Law helps individuals and families throughout Indiana and Michigan review estate planning documents and consider whether the people, protections, and instructions within those plans continue to meet their needs. Contact VanderVeen Elder Law to schedule a consultation and discuss whether your current estate plan still reflects the decisions that you would make today.
