Do I Need to Revise My Estate Planning Documents?

In preparing a Will, a Trust or a Power of Attorney, the intent is always that these documents will last a very long time.  Estate planning documents rarely have a date when they expire or would absolutely need to be revised or replaced.  However, in the following instances, revision may be important or even necessary:

(1) life changes such as marriage, divorce, or birth/adoption

(2) major changes in property/assets

(3) changed goals, preferences or wishes

(4) moving to another state

(5) the passage of a long period of time

 

Determining what changes may be needed is always a personalized process and requires detailed attention. I recommend meeting every 3-5 years to review and discuss planning. For existing clients, this regular follow up is always without any charge or fee.