As an estate planning attorney, one of my most frequently asked questions is, “how often should I review my estate planning documents (e.g., will or trust)? A plan is outdated if it no longer reflects your values and objectives. Life’s internal and external factors can alter your situation or goals, resulting in outdated documents. Most people I consult have outdated plans or no plans at all.
A good rule of thumb is any time you have an internal change, you should update your documents. If there are no internal changes, then you should consult with your advisers about potential external changes every three to five years. During this review with your professionals, you might uncover internal changes that you hadn’t considered.
If you haven’t reviewed your estate planning documents recently, I encourage you to do so today!
To take advantage of a complimentary values-based estate planning process that United Church Homes is making available to you, contact Gloria Hurwitz, vice president of advancement and communications, at firstname.lastname@example.org or 740.751.8702.