Life is full of changes, including your own opinions and views. To ensure your estate plan reflects those changes, it needs to be reviewed and updated on a regular basis.
Some changes in life that might affect a change in your estate plan include:
In addition to life events, there are also changes in state laws, federal statutes and regulations and tax laws. These changes can require revisions to your documents. Fortunately, a good estate planning attorney will always know when this type of change is required.
So, how often should you update your plan?
If there’s an event in your life, a review with your estate planning attorney is probably a good idea. In addition to revisions resulting from life's changes, the clients at Anderson, Dorn & Rader, Ltd. know they can attend the annual client appreciation events. At the next event, we will be introducing a formal maintenance program. The estate planning lawyers think you'll find this to be well worth your time and expense. A regular review of your estate plan ensures that your always up-to-date.