As a general rule, we suggest that you review the plan yourself every year.
We suggest you have a call with your estate planning and elder law lawyer every year to review your plan and update the information in your permanent file. We also recommend that you contact your lawyer in the event of a change in your finances or your family situation.
For example, a substantial increase in your estate (through increased life insurance, inheritance, gifts, or successful investments) may create opportunities for tax savings, as well as necessitate further family financial planning. A substantial decrease in your net worth may also necessitate a revision in your estate plan. This is why reviewing your plan annually is the best option.
