Reviewing Your Estate Plan

If any of the following events occur, you should review the potential effect on your estate plan to determine whether it should be amended or revised.  (This is not an all-inclusive list.)  In any event, we recommend that your estate plan be reviewed every 3-5 years.

1. Changes In Family Relations:

• Divorce or separation.
• Death of a spouse. 
• Marriage of a single person.
• Changes regarding child or grandchild (or other beneficiary).  
   
       (1) Birth of a child.  
       (2) Marriage of a child.  
       (3) Divorce of a child.  
       (4) Adoption of a child.  
       (5) Illness of a child.  
       (6) Death of a child.  
       (7) Economic change: good or bad
       (8) Attitude change.  
       (9) Financial irresponsibility of child.  

       2.    Changes In Your Economic And Personal Condition:  

• a. Asset values:  increase or decrease. 
• Change in insurability - life insurance.   
• Change in employment.   
• Change in business interests: new partnerships or corporations. 
• Property acquired in a different state. 
• Change in your health or that of your spouse.   
• Retirement from business or profession.

        3.   External Changes: 

• Changes in laws:  state and federal income, estate and gift, property, trusts, and probate.   
• Change of residence to different state. 
• Death of personal representative, trustee, or guardian.