Individuals and couples that already have a will or trust may believe that they can put the documents away and not think about it again. However, you should be aware that a regular checkup of your plan is essential for financial health, just as with your physical health. An estate plan reflects the current makeup of your assets, family members and distribution preferences, but there are many life events that can alter the effectiveness of your estate plan.
If you have been recently married, divorced or had a new child, it is important to speak with your attorney about necessary changes to your estate planning documents. Also, if there has been a death in your family, or if aging relatives are facing health and capacity issues, there may be a need for additional measures. A regular checkup of your estate plan will ensure that your family’s financial future is secure and all legal requirements are met.