When do I need to update my estate plan?

You need to update your estate plan if there is a change in circumstances or a drastic change in the law.

The first part is up to you: Most people update or change their estate plans because the people in their lives have changed — relationships changed or people named have died (or are no longer qualified to serve in the roles assigned).

The second part is up to your lawyer to inform you about: changes to the law that would require a change to an estate plan are (frankly) rare. They happen though! And that’s when your attorney will likely send a newsletter so that you’re aware of the update. Some attorneys may reach out directly if the change impacts you specifically.

In general, I suggest reviewing your estate plan every 3-5 years to make sure it still does what you want it to do. Reviewing your plan does NOT necessarily mean that you’re going to change it or update it. It’s really just taking a look and confirming that it is still what you want.

If you already have an estate plan, I offer a complimentary consultation to review your estate plan with you. We can discuss whether it still works for you - or whether you’d like to make changes to the plan.