Having estate planning arrangements in place will help ensure you leave a positive and enduring legacy. But wills and other documents need to be updated as life events occur and circumstances change. This way, the plans accurately reflect the state of your current finances and relationships. Below are three events that require an updating of estate plans.

When to Update an Estate Plan

1. Relationship Changes

Significant changes in family relationships typically warrant some estate planning revision. This includes marriage, divorce, or the beginning or end of a domestic partnership. If you've recently been widowed, your partner's name should be removed from estate plans. New parents will also want to bring their wills up to date, making provisions for the new arrival and appointing guardianships to take effect in the event of an unforeseen tragedy.

2. You've Turned 70

At age 70, many 401(k)s, IRAs, and other retirement plans require you to start taking minimum distributions. This will likely impact the amount of money you've designated for certain beneficiaries in your estate plans. Once you reach 70 years of age, contact your estate planning attorney and work with them to make the necessary revisions that account for this adjustment in assets.

3. You've Moved to a New State

Different states have different laws when it comes to estate planning. If you've recently moved to a new state, consult a local attorney and see if any amendments need to be made to your existing plans. Even small differences in the laws from one state to the next, such as the number of witnesses needed when signing a will, necessitate changes to bring the plans in line with the current state's regulations. Failing to do so will only complicate the probate process and throw the legal validity of your plans into question.

When you need estate planning guidance, trust the Law Offices of Robert B. Liotta, Esq. Since 2000, Attorney Liotta has been serving clients throughout Pennsylvania’s Westmoreland, Allegheny, and Armstrong counties. In addition to estate planning, he offers representation in family, personal injury, and real estate law cases. Call (724) 334-9870 to schedule a consultation or visit his office's website to browse his services.