Unless your estate plan consists of a single irrevocable trust, it is wise to consider your will and other relevant arrangements living documents as their terms will change over time. It is never too early to draft a will, but remember that your life is likely to change, which will affect how you want your assets to be distributed. An estate planning attorney can help you update these living documents as your financial status and relationships shift.

When Should You Review Estate Planning Documents?

After a Major Transition or Change in Circumstances

It is essential to review any estate documents following every major life transition. This includes getting married, buying a home, having children, moving out of state, acquiring an inheritance, getting divorced, and having grandchildren.

In general, anything that affects your family dynamics, net worth, or living situation calls for a review of estate planning documents. If you are likely to forget about updating your will after every change in circumstances or you expect several major transitions over the next decade, begin reviewing the documents annually.

After Relevant Changes in State or Federal Law

An estate planning attorney who offers comprehensive legal counsel can keep you informed of any changes in federal tax code that might affect beneficiaries. A local lawyer will also track any changes in the state’s trust law, probate code, and inheritance statutes. If changing laws will affect asset distribution or probate proceedings, it is essential to update the documents as soon as possible.

If any of the above applies to you, an estate planning attorney can help you make the necessary changes to critical documents. Turn to Sherri K. Rutherford in Chillicothe, OH, for quality legal counsel regarding everything from guardianship to probate. She has been representing clients throughout the area for more than two decades and values each case as if it were her own. Visit the firm online to learn more about her areas of expertise, or call (740) 775-7434 to schedule an initial consultation with an estate planning attorney today.