If you are ahead of the curve in creating an estate plan, great! But it is also important to have it reviewed often. Not only is the law complex, but it also changes constantly. Changing tax law may affect what type of estate plan you need and provide significant benefits for you to take advantage of. New property laws may provide more ways to transfer property after death while also avoiding probate.
 
Similarly, your life circumstances, family dynamics, and property all change over time. A will created twenty years ago may have been perfect for your family at that time, but since then your children have grown up, you may have bought and sold property, and you or your family members may have concerns about your health or finances.
 
It is generally recommended that you review your estate planning every five years to seven years. There are also significant life events that should prompt you to review your estate planning even sooner. These events can include: getting married, divorced, the addition of new children or grandchildren, the death of a spouse, a diagnosis of an illness, or a significant change in your property or finances.
 
To review your existing estate plan, or to start planning your estate, contact my office to set up a consultation.

​In July, I sat down with Connor Bauserman, host of the Wealthy HOMES Podcast to discuss the importance of estate planning. In particular, we discussed why it is so important for parents of young children to have an estate plan in case the unimaginable was to occur. An estate plan allows you to nominate guardians and direct the distribution of assets over time for the benefit of your children. Listen below: