Providing Guidance For Your Legal Issues

At Mewborn & DeSelms, Attorneys at Law, you work directly with experienced lawyers who understand
the complex needs of your case.

How often should you review your estate plan?

On Behalf of | Aug 12, 2020 | Firm News

When it comes to creating an estate plan, many people recognize the importance of taking the right approach and preparing for the end of life. However, it is also very important for you to review your estate plan periodically and make changes when necessary.

Failure to go over these estate planning matters can lead to various challenges, especially if one passes away unexpectedly or forgets to address certain matters over time. This often places additional strain on family members who are already struggling with emotional pain and stress.

Reviewing your estate plan periodically

Some people review their estate plans periodically, whether they make sure to go over their will or trust once a year, every six months or even quarterly. Others do not review their estate plans very often, if ever. Everyone is in a different situation in life, from their family members to their income and other issues that impact their estate. Some people need to review and update their estate plans more frequently, but it is imperative for everyone to review their will or trust once in a while.

Major life changes and your estate plan

If you experience a major change in your life, such as the loss of a significant amount of your assets or the death of your spouse, go over your estate plan promptly. Even if you recently reviewed your estate plan, these changes typically necessitate the immediate revision of an estate plan and it is imperative to review your will or trust carefully. Take this opportunity to read about other important estate planning issues.