Planning Tip: Like your car, your estate plan needs regular "servicing." Set aside a specific time every year (your birthday, anniversary, family gathering) to review it. Become familiar with it. Keep it current so it will perform the way you want when you need it.The following situations should trigger the need to seek immediate legal help to review or revise the family's current estate and tax plan: Serious or life threatening illnessIllness or death of a spouseContemplation of marriage, or remarriageBirth, death or illness of parent, sibling, child or grandchildDisability of parent, sibling, child, grandchild, or a dependant or handicapped dependant that may require special considerations or a special needs trustMarriage or divorce of a child or grandchildYour chosen Health Care Agents can no longer serveBusiness has grown (or declined) significantly in the last few yearsPersonal net worth has grown (or declined) significantly in last few years.Your successor trustee, guardian or administrator moves, becomes ill or changes mindRetirementMove to a new StateBuy Property in another stateEstate Tax Law ChangesYou change your mindThis list is not meant to be all inclusive and are only some of the situations that may require revisions to an estate plan.Read more: http://www.rossestateplanning.com
