Article written by Mark Eghrari
Creating a solid estate plan is a wonderful idea – but the process shouldn’t end when your plan is in place.
Periodically reviewing your plan ensures it accurately reflects your current goals and requirements. Make sure you revise your estate plan if your personal or financial situation changes, like:
Divorce. Once your divorce is finalized, your plan should be revised as quickly as possible to reflect any new goals and desires. In addition, you can take steps to protect your heirs from potential future divorce.
Birth or Adoption of Children. In addition to providing for your child’s financial future, you may also wish to appoint a legal guardian in the event you and your spouse die or are incapacitated.
Changes in Tax Laws. Tax laws are constantly changing and can dramatically affect your estate plan. Your estate lawyer can help ensure that your plan takes advantage of new legislation.