An estate plan covers a specific set of financial circumstances. When your circumstances change, your overall estate plan may have to change as well.
Over the previous four issues, we have discussed trusts, wills and other various estate planning tools. You may think that once you have a will drafted and executed or a trust document created, you are done with your estate planning. That is not entirely true. There is constant maintenance that must performed to make sure that your wishes are carried out as desired. An estate plan covers a specific set of financial circumstances. When your circumstances change, your overall estate plan may have to change as well. The following events necessitate a review of your estate plan: