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Daytona Beach Lawyers > Blog > Estate Planning > When Should You Review Your Estate Plan?

When Should You Review Your Estate Plan?


Creating an estate plan is one of the most responsible things you can do to legally protect your family in the event that you pass away. Unfortunately, many people create an estate plan and then leave it in a safe, drawer, or at their lawyer’s office and they do not think about it again. Having a ‘set it and forget it’ mentality about your estate plan, though, is a mistake.

Proper estate planning requires regular reviews and revisions to make sure it reflects your current situation. So, how do you know if it is time to review your estate plan? Below, our Daytona Beach estate planning lawyer explains when it is time for a review.

Family Life Events 

There are many important life events that will require a review of your estate plan. These include any marriage, divorce, death, disability, and more. If an event has significantly changed your own life or that of your family’s, it is time to review your estate plan to make sure it accurately reflects that situation. The birth of a new baby, for example, may require you to change your estate plan to include them as a beneficiary. If you get a divorce, you should also review your plan and remove your spouse from it.

Tax Law Changes 

Creating an estate plan has many benefits. One of the biggest of these is that it gives you some control over the taxes your family will face. Certain elements included in your estate plan can help reduce the tax burden on your family. To include these protections, you must stay up to date with current tax laws. Tax law is ever-changing and any time a change is made, it is time to review your estate plan.

You Move to Another State 

Every state has their own laws regarding estate plans. For example, California recognizes holographic wills, which are handwritten but Florida does not. If you move to another state, it is critical that you review your estate plan with an experienced lawyer. A lawyer can advise on the laws of the state and make any necessary changes to ensure it is valid.

Your Health Status Changes 

Your own personal health is one of the biggest factors to consider when creating your estate plan. If your health takes a turn for the worse, you may not be able to make important decisions for yourself or manage your own affairs. In this case, you should review your estate plan to determine if you should appoint a medical power of attorney or a guardian.

Our Estate Planning Lawyer in Daytona Beach Can Review Your Plan 

Whether you still need to create an estate plan or review an existing one, our Daytona Beach estate planning lawyer can help. At Bundza & Rodriguez, our experienced attorneys will also ensure your estate plan provides the protection your family may need and accurately reflects your last wishes. Call or text us now at 386-252-5170 or chat with us online to schedule a free consultation.



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