How Often Should An Estate Plan Be Reviewed or Revised?

In this article, you will discover:

• Tips on maintaining an estate plan
• Where to find affordable estate planning services in Florida

It’s important to review your estate planning documents regularly, to ensure that they’re still up to date and meeting your needs. I recommend doing this every year or two. This isn’t just a case of pulling out the documents and skimming through them. Make sure to read them thoroughly and think about what has happened since the documents were executed. You should take into account any changes in your family circumstances, such as births, marriages, divorces, or premature deaths. I usually give my clients a letter with a list of things to consider, and tell them to call me if anything of those events happen and that it may require a change to their estate plan.

It is important that people understand that estate planning is not a one-time event, but something that should be revisited on a regular basis to ensure that the plan continues to meet their individual and family needs. I often hear from clients who are concerned that they will have to pay me the full fee again if they need to make changes to their estate plan. However, this is not the case. Minor changes can be accomplished with an amendment or codicil and will be charged on an hourly basis. If you keep your estate plan up-to-date, it will work the way you want it to.

Nailing down the details of important documents can be time-consuming and require witnesses, a notary, and/or other staff. There are also costs associated with maintaining an office space. I always keep my rates reasonable, adjusted on an hourly basis. I understand that when it comes to estate planning, people are often worried about costs– so I try to be as financially reasonable as possible.

For more information on Estate Planning Law In Florida, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (561) 907-7848 | (239) 933-8753 today.