Review Your Will Regularly
You should review your will every two to five years, or whenever your circumstances change. Changes that warrant revising your estate plan might include:
- Marriage
- Divorce
- Having a child
- Having children move out of the house
- Acquiring or inheriting a large asset
- Selling a large asset
- A change in the tax laws.
It is not always necessary to revise your entire Will. However, laws change and lives change. You should periodically review, with your estate planning attorney, your family’s circumstances and whether any adjustments should be considered. In addition, estate planning is not just about having a Will.
We are constantly planning for our estate as we plan for our lives. Financial planning, accounting, and estate planning all work, hand in hand, as we identify our goals and dreams and how we will attain these. Whether you are contemplating getting married, purchasing a home, starting a business, sending children to college, or retirement – all of these events benefit from thoughtful and prudent estate planning.
