Revisiting Your Estate Plan

Your estate plan should be revisited every three to five years to ensure it still gives effect to your wishes.  Here are some examples of when you should revisit your estate plan even sooner:

• Your financial situation changes     
• Your family changes        
• The death of a beneficiary    
• An executor or trustee dies or becomes incapacitated  
• You sell or gift assets in your Will      
• You buy or inherit assets     
• You begin holding assets that your Will cannot deal with            
• The entities or structures holding your assets change

See Why and How Often Should I Update my Will and Estate Plan?, Cooper Grace Ward, March 4, 2014.

Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.