When Should You Update Your Estate Plan?

Many people create an estate plan and never review it again.

 

However, estate planning should evolve as life changes.

 

An outdated estate plan may no longer reflect your wishes.

 

You should consider updating your estate plan after:

• Marriage or divorce
• Birth of children or grandchildren
• Buying or selling real estate
• Starting a business
• Receiving an inheritance
• Moving to Illinois
• Significant financial changes

Even if nothing major changes, reviewing your estate plan every three to five years is often wise.

 

Documents such as powers of attorney, wills, and trusts should reflect your current life circumstances.

 

Outdated beneficiary designations can also create unintended consequences.

 

Estate planning is not a one-time event.

 

It is an ongoing process that should adapt to your family and goals.

 

At JPR Law, LLC, we help Illinois clients review and update existing estate plans virtually.

 

Schedule a virtual consultation with  Julie A. Kolodziej at JPR Law, LLC to discuss your estate planning, probate, or trust administration needs from the comfort of your couch.

 

About Julie A. Kolodziej

 

Julie A. Kolodziej is the founder of JPR Law, LLC, a virtual Illinois estate planning and estate administration law firm serving clients throughout Illinois through flexible Zoom-based consultations. JPR Law focuses on estate planning, trusts, probate, trust administration and related family planning matters. Learn More About Julie A. Kolodziej