Estate Plans – When to Update Them?

Congratulations – you’ve finished having the essential Estate planning documents executed.  You have your Will(s), Trust(s), Powers of Attorney for Financial Matters and Medical Matters.  You’ve had the meeting with your Personal Representative and there is understanding about the entire plan.  But that was several years ago.

There have been many changes in your life.  Perhaps you married or divorced.  Perhaps there are more family members to consider in the planning, or fewer.  Perhaps your investment plan has changed (maybe more than once) since the documents were drafted.  And very likely the best practices for effectively drafting these documents have changed due to outside influences (i.e., HIPAA).

You should have the documents and your overall plan and situation revisited every few years and definitely after any life-changing event. Marriage. Death. Move. Significant Financial Change. It doesn’t mean that all the work that went into them is lost; rather, it is quite likely most of the work done is fine and only a few tweaks are needed.  Make a habit of picking a quiet time during your year and consult with your Estate Attorney and Accountant to see that everything is up to date. 

Feel free to contact us with any questions you may have. We look forward to hearing from you.


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