HOW OFTEN SHOULD YOU REVIEW YOUR WILL AND OTHER ESTATE PLANNING DOCUMENTS?
How often should you review your Will and other estate planning documents?
If there is a death, birth, adoption, divorce, or other life-changing events in your life or the life of a beneficiary, executor, trustee, guardian, or power of attorney, it is worthwhile to review your estate planning documents to see if any changes need to be made. Also, if you have a Living Trust, it is worthwhile to review your trust documents annually to see if anything needs to be updated and to make sure all assets are properly titled.
Over time, changes in relationships, health, and who is still living can affect whether they can or would serve in the role designated. With certain changes, you may want to update or make changes to certain roles. This is especially true when designating spouses of a child, spouses of a friend, or spouses of a family member.
An attorney who works in estate planning can help advise you of recommended changes and help you make those changes to your estate plan. If you would like to review your estate plan with an attorney, call the Law Office of Roy Neal Linnartz, PLLC at 830-625-9300.