Top Ten Reasons to Re-Visit Your Estate Plan

Top Ten Reasons to Re-Visit Your Estate Plan

Having an estate plan is one of the most important pieces of insurance you can put in place during your lifetime, but you will be doing yourself and your family a disservice if you simply “set it and forget it.”  It is a good practice to review your estate plan every 2 years or so to ensure it still adequately addresses all your concerns and goals.  Certain circumstances may require a change to your estate plan.  Here are the top 10 reasons why you may need to make a change to your current plan. 

  1. The marital status of you and/or your children has changed
  2. The birth or adoption of any children or grandchildren
  3. You or a family member has a serious illness, disability or has become incapacitated
  4. You want to address creditor issues for your children and/or grandchildren
  5. You want to make gifts or loans to certain individuals or charities
  6. The overall value of your gross estate has increased
  7. You want to designate different individuals to serve as your agents in your documents
  8. One of your beneficiaries has passed away
  9. You moved to another state
  10. The tax laws or other state laws affecting your estate plan have changed

If you have experienced a change in circumstances since your estate plan was put in place, or if you are concerned about how changes in the tax code or other laws in your state may impact your estate plan, call us for a free consultation to review your plan and discuss your current estate planning needs and goals.