Review your estate plan every three to five years, and again after any major life change. Marriage, divorce, a new child, a death in the family, a move, a new business, or a big change in your finances can all make an old plan work differently than you intended. A quick review often shows nothing needs to change.
Documents do not expire, but families and circumstances change. A will or trust that named a former spouse, an executor who has since passed away, or guardians for children who are now adults can cause real problems. Beneficiary designations on retirement accounts and life insurance are easy to forget and often override your will, so they belong in every review. Laws also change, and a plan written years ago may not take advantage of current options. A review is usually short, and it gives you a chance to confirm that the people you named are still willing and able to serve.
