It's important to regularly review your estate plan to make sure that it reflects important changes in your life. Learn when to review and make changes to your estate plan.
- When circumstances change, it's time to review your plan.
You should review your estate plan at least once a year, and also when circumstances change.
Changes in your life
Review your plan when there are major changes in your life, such as:
- Birth of a child
- Significant changes in the value of your assets
- If you legally change your name
- Other changes in life stage and circumstances, e.g. divorce, your child is no longer a minor
Changes to anyone mentioned in your Will
You will also need to review your estate plan in these situations:
- Where a beneficiary passes away
- If a named executor or trustee is unable to carry out their duties
- If anyone mentioned in the Will legally changes their name
- Death of your child's appointed guardian