Estate Review Time? (Every Two Years)

Estate planning is a lifetime process. Your plans are constantly changing, growing, and adapting as you live your life.  Accordingly, don't forget to reflect these changes in your estate plan.

While it's a good idea to review your estate planning at regular intervals, there also are certain life events that could trigger the need for review and updates. Forbes points out three of them in their recent article, "When Should You Redo Your Will"? The top three events listed in this article include changes in the law, impending good fortune, and financial setbacks.

Essentially, you really need to adjust your estate plans whenever your life or finances change. Another recent Forbes article offers the "5 Life Events That Require An Estate Planning Review."

Their handy checklist says you should review your estate plan when:

1. You get married.
2. You get divorced, or your spouse dies.
3. You purchase or refinance a home.
4. You open new savings, bank or investment accounts.
5. You have new children or grandchildren.

So, have you reviewed your estate plan lately? Note: I recommend every two years, whether your own self-review or with our estate planning attorney.

Reference: Forbes (August 9, 2012) "When Should You Redo Your Will?"

Forbes (August 13, 2012) "5 Life Events That Require An Estate Planning Review"