Beardsley, Jensen and Von Wald
There's been lots of talk about New Year's resolutions the last few days, especially on television commercials. Whether you want to call it a resolution or not, now is a good time to review important legal issues in your life.
Review your will. If you don't have one, seriously consider gathering all of your important documents and making an appointment to get one drafted. If nothing else, you should have a will to set out your wishes with regard to who will have custody of your children should you and your spouse die. It's important.
Review your insurance coverages, including: motor vehicle, general liability, personal umbrella, life, health, disability, and long term care. Do you have the right kind of coverage, do you have enough?
All insurance is important. Given what seems to be an increasing number of people who drive with little or no liability coverage, you should pay particular attention to the amount of uninsured and underinsured coverage you have. It's often relatively inexpensive to buy. You will be well served to call your insurance agent to make sure you have adequate uninsured and underinsured coverage. Ask any lawyer about how important it is to have adequate uninsured and underinsured coverage.
Review your health care related documents, such as a medical power of attorney and living will. If you don't have these documents, take some time to learn about where they might fit into your life. You will likely want one for you and your loved ones.
Speaking of your loved ones, if you have elderly family members then perhaps now is a good time to ask if they want to review their important legal documents. Perhaps the time has come to finally get documents executed.
Review your business legal issues. Is your business insurance coverage adequate? Are your organizational documents up to date? Have you met all of your reporting requirements? Are your documents compliant with current law, especially those dealing with privacy?
All of this reviewing may take some time, but probably not that much if you get right at it. It will be well worth your time. If you do it now, you will be freed up later in the year so you can follow through on other New Year's resolutions, like fishing more!
Lawline@KOTATV.com is intended as general information on legal issues affecting us all. This information should not be relied upon in any particular case and should never be used in lieu of consulting with an attorney.