It’s important to remember that after you have executed your estate planning documents (i.e. will, trusts, power of attorney), your life circumstances may change in the future. Therefore, you need to review your estate plan periodically to determine if any revisions need to be made. The following life events may require you to change your estate plan:
- Marriage or divorce
- Birth or adoption of a child
- Purchase or sale of real estate or a business
- Purchase of life insurance
- Substantial increase in the size of your estate (i.e. inheritance)
- Change of beneficiaries
- Change in estate tax laws
How often do you need to review your estate plan? At least every 2 to 3 years or sooner if any of the events listed above should occur.
If you are a Georgia resident and believe you need legal advice regarding your estate plan, please register today to discuss your options with an attorney.
