As the Spring Season enters full swing, it is a good time to do spring cleaning, to plant the garden and trim the bushes, to address home improvement projects that have been neglected, and for many, to dust off their Estate Planning Documents for a regular review.
The average person’s financial, familial and legal circumstances are constantly in flux. Over time, these changes can call for the need to revisit and potentially revise one’s estate plan. Changes in the size and nature of your estate, your familial structure and family relations, as well as changes in the law are just few examples of events that can drastically and materially affect an outdated comprehensive estate plan. It is recommended to review your estate plan every 5 to 10 years in order to determine whether your documents still reflect your intent regarding how you wish for your assets to be distributed after your death. If you have not conducted this type of review in the past 10 or more years, you may be surprised by what you discover.