Is it Time to Update Your Will? Check the "Who, What, When, Where and How"
"How often do I need to review (or update) my Will?" There is no magic answer to that question; instead generally speaking it is good to review your estate planning documents whenever life changes occur. These would include marriage and divorce, having or adopting a child, death in the family, moving, and coming into an inheritance, as just a few examples. Sometimes a client will ask this question while cringing at a perceived self-serving response from the attorney, requiring the client to come back to the attorney repeatedly, and thus incurring more cost. Regular reviews with your attorney are helpful like "checkups" to ensure you still have a "healthy" estate plan that meets your needs. Those needs change over time, and the law is constantly evolving as well. In light of these constantly changing dynamics, it would be unrealistic to view estate planning as a "one and done" process. To help with this question, consider the "Who,...