How often should I update my estate plan? – Patterson Bray PLLC

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You will be updating your estate plan throughout your life. Your estate plan should be updated when there are family changes such as births, marriages, divorces, adoptions, all those kinds of things. You should also be reviewing and updating your estate plan when there are financial changes such as a new job or a business venture. If you’ve received an inheritance or if there are significant fluctuations in your assets, you will want to make sure that your estate plan is updated and complies with the new

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state laws. Lastly, I would say you should update your estate plan to also be consistent with certain legal changes. Updates to federal estate tax laws may impact the effectiveness of your plan.

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