When to Update Your Estate Plan

If you've already got an estate plan, congratulations! 

However, as time passes, you may find that you've experienced some major life events that alter how that plan works. If any of following have happened since you signed your will, created your trust, or named beneficiaries, it's time to review your documentation to make sure it represents your current wishes.

If you've just created your estate plan, keep these in mind for the future.

• –Marriage

• –Divorce

• –Birth or adoption of a child

• –Death of beneficiaries

• –Acquiring or selling a major asset (e.g., a home or business)

• –Significant change in financial status

• –If your estate is large enough to be impacted by a change in estate tax exemptions (due at the end of next year?)

A good general rule of thumb is to review every 5 years.