Your situation is bound to change as the years pass by. So too may the goals you wish to achieve with your estate plan. That’s why it’s important to revisit your plan from time to time and make sure it’s up to date. A plan that doesn’t reflect your current needs will have limited effectiveness.
You should update your estate plan after major life events, such as:
Getting married
Getting divorced or separated
A representative’s death
A beneficiary’s death
Purchasing any significant assets (such as a car or house)
Losing or acquiring debt
Having or adopting children
Always let your representatives and attorney-in-fact know of any changes to your estate plan.