How to Prepare for the Death of a Loved One

How Often Should You Update Your Will

Once executed, your Will should be updated regularly, especially under these circumstances: A birth, marriage or divorce in the family; a move to another state; a change in tax laws; a change in the status of dependent children; impending retirement; or a change in personal circumstances or needs.

As your family grows and changes, it is important to review your estate plan regularly to make sure your estate planning goals and objectives are still being met.

While there are no hard and fast rules about how often you should review your estate plan, the following life changes may trigger a need to do so:

     * Change in your marital status

     * An addition to your family, either by birth, adoption or marriage

     * Substantial change in the value of your assets

     * Move to another state

     * Impending retirement

     * Changes in the tax code

     * The simple passage of time

 

This is for informational purposes only and not to be construed as legal advice. You should consult an attorney for expert legal advice.



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How to Prepare for the Death of a Loved One


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