How often should my estate plan be reviewed and, possibly, revised?
A. The circumstances of each person and each family are different. In most cases a review of your estate plan every three years is probably a good idea. Major life events such as deaths, births, mental or physical incapacity, divorce or legal separation, or the receipt of a substantial inheritance or gift are all certainly cause for reviewing and possibly changing your estate plan. Your testamentary intentions may also evolve over time as well. For example, as you grow older you may wish to make a charity a beneficiary of your estate. If an estate is subject to Ohio or federal estate taxes then changes in those laws make a more frequent review of your estate plan advisable.
