Updating Your Estate Plan

If you have an estate plan, it is good idea to get it reviewed every 3-5 years. Some of the documents of your estate plan may expire over time. Likewise, there may be changes to your family such as a divorce or remarriage, a new child, or a new charitable organization you would like to contribute to at your death. These changes in your family or wealth can dramatically alter how your estate plan should be structured.

Also, the laws are changing all the time. A great article in Money Magazine, titled Keeping Wealth in the Family discusses this topic in more detail.

Many attorneys will look over an estate plan free of charge, then set up a meeting to discuss with you what should be changed and give you a price for completing this task. This would also be a good time to also consider adding additional documents which may not have been part of your original estate plan. These documents could include a health care directive, durable power of attorney, funeral arrangements, etc.