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When should I update my estate plan?

Clients often ask how often they should review and update their estate plan.  Here’s a quick reference guide of when you should call us to schedule a time to review your estate plan:

  • It has been more than five years since you last reviewed your plan
  • Your health has changed
  • The health of one of your beneficiaries has changed
  • One of your named fiduciaries (i.e. Personal Representative, Trustee, Attorney-in-fact, Health Care Agent) has died or is no longer the right choice
  • Your marital status has changed
  • You received an inheritance
  • You have a new baby
  • Your child(ren) reach the age of majority – click here for Attorney Poole’s blog about the three documents that are vital for your 18 year old child
  • The value of your assets has changed significantly

The above list is not meant to be exhaustive as everyone’s situation is unique.  If you are wondering if it’s time to come in for an update, it probably is.  Call Jennifer Poles at our office to schedule an appointment with one of our attorneys to see if any updates are necessary.

July, 2018

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