If you find yourself with assets worth less — or more — than they were when you drew up your will or created a trust, it may be time to review your estate plan.

Changing Assets
If you’ve earmarked certain assets — a stock portfolio and real estate, for example —for certain heirs, and one asset has either significantly increased or decreased in value, you may need to rethink the way you’ve divided them. Instead of leaving specific assets to each heir, you may want to designate amounts or percentages. That way, if one asset is worth more than another, your estate will still be divided as you’ve planned. And remember, if you’ve purchased or sold assets such as real estate, make sure to update your plan to reflect the new value of your assets.

Charitable Giving Revisited
If you’d planned on giving assets to charity but now find you need them for your family, you’ll have to adjust your plan. Or, perhaps you’ve designated particular assets to go to charity, but the value of those assets has declined. If you want to give the same amount, you’ll need to earmark additional assets for your bequest.

Making your estate plan flexible may help it weather changing asset values. Your First Command Advisor can help by referring you to a local attorney or CPA, at your request, and work with them to develop an estate plan. And your Advisor will work with First Command Bank’s Trust Services department to establish any trusts that are part of the estate plan. The bank’s trust officers can provide all the fiduciary services required to administer your trust to help you preserve, protect and enhance your financial legacy. Smart financial decisions can help you make the most of your resources. To learn more, contact your First Command Financial Advisor today.