How often should an estate plan be reviewed?

Minneapolis estate planning attorney, Nicholas Kaster, discusses how often an estate plan should be reviewed and what events would trigger the need to change the plan.

Contact Nicholas Kaster

Email: [email protected]

Phone: (612) 877-5444

Transcript:

I encourage clients to take a quick peak at their estate plan every three to five years. In most cases, the plan will work in all situations but if there’s a major life change, a divorcee, a child passes away, additional children, additional grandchildren the client may want to change provisions. Another instance where a change might be necessary is great changes in wealth; up, down that requires some revision too, maybe some estate tax provisions or something along those lines. But three to five years seems to be an appropriate time to revisit.