Major Life Events

Wills and Estate plans are not a document that should be done once and never looked at again.  When a major life event happens you should review your will and estate plan to make sure it is still what you want.  For example, if you had a will created and then you get married and have children do you still want to leave everything to you former roommate?  It may have been a good idea when you drafted the will but not several years down the road.

Additionally, it is not just major life events in your life you need to think about.  If you state that you want your brother to be your child’s guardian if anything were to happen to both you and your wife, that is great.  Now several years later he is married and has several children of his own, would it be better to have your child’s guardian be your sister-in-law?  Or what if you leave a family heirloom to your cousin and he suddenly passes away.  Who should the heirloom go to?

Some lawyers will say you should review your will and estate plans every 5 years.  I recommend that you review these documents every three years AND when major life events happen to you and those you listed in your documents.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s