Some subscribe to the idea that you should review your estate plan every five years. This provides the opportunity to evaluate where you’ve been, where you are and where you want to go. A routine review of your estate planning documents allows for the discovery of any changes that may have occurred.
Another useful time to review your Last Will and Testament or Trust Agreement would be upon the happening of a life event. If you were to marry or divorce or to lose a family member, you will want to see if that will have any impact on the plans and appointments which you have made.
Finally, should you experience a gain in wealth, you may want to consider what impact that may have on your planning and whether you may want to do some additional planning for estate tax purposes.