Not regularly reviewing documents
Attorneys recommend reviewing estate plans every three to five years to ensure details such as trustees, executors, guardians, beneficiaries and healthcare agents are up to date. A review should be conducted sooner if there’s a material change in circumstances in a client’s life, such as divorce, or a change in tax law.
“What looked like a really good, solid plan 15 to 20 years ago may not do what you want later on,” Mr. Behrendt said.
