It is best to review an estate plan at least every five years so that documents can be updated to incorporate any changes in circumstances as well as the ever-changing law.
There are a number of situations that may indicate a need for new or amended estate planning documents, including:
- Changes in health
- Changes in marital status
- Births and deaths
- Changes of mind with respect to a beneficiary, agent, executor, trustee or guardian
- Property acquisition or relocation to another state
- Changes in business interest or wealth
