When Should I Review My Elder-Law Estate Plan?

A mistake in elder-law estate planning is failure to regularly review the plan. At a minimum, each client's estate plan should be reviewed every three years to determine whether changes in the client's personal life, such as health, assets or family history (births, deaths, marriages, divorces, etc.) might require changes to the plan. Similarly, changes in the law may lead to changes in the plan. It is unrealistic to expect a plan established today to be effective 10, 20, 30 or more years in the future. Over time, clients may want to change their backup trustees or plan of distribution….

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