Why You Should Revisit Your Estate Plan

Creating your estate plan is a big undertaking, and you should be proud of yourself for your efforts. However, estate planning doesn’t stop there. The essential components of your estate – will, trust, bequeaths, etc. – were all based on life as you knew on the date you finalized the plan and walked away with a binder and/or digital file. As a result, that living document could be seriously out-of-date.

If your estate plan is signed and dated more than five years ago, there’s a good chance things have changed – in big and noteworthy ways. As we like to say, “As time passes, change is the one constant…”

For your estate plan to reflect your current family structure, assets, life situation, and intentions, you must revisit it regularly – making it a ritual of sorts. Putting off this important estate plan maintenance leaves your estate vulnerable, and can make it far more complicated for the ones left behind when the plan is put into place.

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