Some people in Washington may think their estate is in good shape because they created a will years ago, but it is important to keep estate plans updated. This is illustrated in the case of film director John Singleton, who died suddenly in April of a stroke at the age of 51. The only estate planning document he left behind was a will from 1993.
It is common for high net worth individuals to think about their assets when it comes to estate planning. While these assets are important, there are other things that need to be looked at as well. Individual needs to consider the legacy they wish to leave behind.