How Often Does Estate Planning Need to be Reviewed or Updated?

It is important to keep your estate planning documents up to date. Fortunately, in many cases, this does not require frequent changes to a will, trust or power of attorney. Laws do sometimes change that may require some changes to your documents but this only occurs periodically. The most pressing reasons why your will, trust or power of attorney may need to be updated are typically life changes or family changes. For example, perhaps a marriage or divorce alters your goals and plans. Or maybe an untimely death has altered what you would like to happen in your planning. Relationships sometimes change and you may feel a need to make some related changes. In most instances, estate planning is meant to last indefinitely—but when changes in your life or family come along (or occasionally, changes in the law) updating your documents can become extremely important.