When should I have my Estate Plan reviewed?

An Estate Plan should be reviewed after any life change.

Marriage, divorce, the birth of a child, illness, a change of financial situation, and moving to another state all constitute life changes. Any of these should trigger the need to have an Estate Planning Attorney review documents.

Laws change often. As a general rule of thumb, look at your documents every year. Check in with your Estate Planning Attorney to see if there are any changes to the law that will impact your current Estate Plan.

If an annual meeting isn’t feasible, Estate Plans should be reviewed every three years at a minimum. You may not need to make any changes, but it is important to stay on top of your Estate Plan.

A good Estate Plan should cover most new events, like the birth of a child or grandchild. Things like marriage and divorce are more difficult to plan for in advance, but a quality Estate Planning Attorney can manage that.

Watch - This Month’s ‘Basics of Estate Planning’ educational webinar

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