African American Family

How often you should have your estate plan reviewed depends largely on where you are in life:

  • In your 30s and 40s, every three to five years.
  • In your 50s and 60s, every two to three years.
  • In your 70s, every one to two years.
  • In your 80s and beyond, every year.

There also are life events that, when they occur, make it a good idea to contact your attorney to schedule an estate plan check-up, including:

  • Marriage.
  • Divorce (yours or a beneficiary of yours).
  • Death of a spouse.
  • A substantial change in the size of your estate (for example, if you receive a large inheritance or win the lottery).
  • A move to another state.
  • Death or serious of any personal representative, trustee, guardian, conservator or beneficiary that you have named in your legal documents.
  • Birth or adoption.
  • Death or serious illness of a family member.
  • Changes in any business interests you may have.
  • Retirement.
  • Change in your health.
  • Change in your eligibility for life insurance.
  • Acquisition of property in another state.
  • Changes in tax, property or probate and trust law (if applicable to your estate).
  • A change in your attitude toward your beneficiaries.
  • Any new financial responsibility.

Remember that an estate plan is not simply a “piece of paper.” It’s peace of mind. There is no better time than today to help secure your family’s financial future with a comprehensive estate plan.

For more information or to get started on this important life project, visit www.ArborEstatePlanning.com or contact me at Chris@ArborLegal.com or 734-827-9460. I’ll help you plan ahead.

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