When Should You Contact Your Estate Plan Lawyer? – Part 1

I recommend that my estate planning clients review their estate plans every four years, aligning this with the U.S. presidential election cycle. Significant changes in laws that impact estate planning often occur when a new president and members of Congress take office. While some attorneys suggest annual reviews, I believe that revisiting your estate plan every four years strikes the right balance.

It’s also important to review your estate plans when you move to a new residence. Since Americans tend to move nearly a dozen times in their lifetime, it’s practical to update your estate planning documents with each move. For instance, when some of my clients moved out of the Denver metro area, we updated their beneficiary deed to reflect their new location. This ensured their estate plan remained accurate and effective after the sale of their previous home.

Another crucial time to revisit your estate plan is when you have children. Parents naturally want to ensure their children are cared for and financially supported in the event of their passing. Establishing or updating your estate plan during these life events is essential, as it involves appointing guardians, securing life insurance, and addressing property and financial matters.

As a general rule, if you ever wonder what life change would require checking in with an experienced estate plan attorney – it’s worth reaching out to one to make sure you’re covered.