There are many reasons to review and update your will and other estate planning documents.  Below is a checklist of events that may prompt you to do so.

• The individuals you have named are deceased.

• New people should be named in your will (e.g. birth, adoption).

• Divorce or marriage.

• New state laws. You need to periodically check to see whether your state has enacted new laws that impact your estate planning.  More importantly, if you move to a different state, don’t assume that your will made in your previous state conforms to the requirements of your new state.  

• Change in guardians, trustees, or personal representatives.

• Children reach the age of nineteen.

• A substantial increase or decrease in the value of your estate.

• The acquisition or disposition of a significant asset.

• If you have an IRA, 401(k), or other qualified plan that requires you to being to taking distributions at 70 ½ years of age.

• The passage of time is reason enough. You should review your will and estate planning documents every three to five years.