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While developing an estate plan is crucial, reviewing it is equally so. Your plan should change right alongside your life, and when it does not your wishes for your assets may not be honored. 

When should you review your estate plan? General reviews are recommended every few years, but Kiplinger also suggests you look over your plan when any of the following issues arise. 

You have doubts about your trustee or executor

While it is natural to name a friend or a loved one as the trustee or executor of your estate, this can also cause problems. Overseeing an estate comes with a lot of responsibilities, and not all people are suited to carry them out. For example, if you named a sibling when they were single, and the person now has a family with responsibilities of their own, you must determine whether they will be available when the time comes. To prevent issues, consider changing to a third-party representative to oversee your estate. This could be a financial institution, attorney, or trust company, who will adhere to your final wishes and ensure duties are carried out. 

Your beneficiaries have changed

New births in the family, including kids and grandkids, warrant a thorough review of your estate plan to ensure they are included. A review is also necessary if any of your current beneficiaries have died or your relationship with them has been severed. If you do not make updates, your heirs may not receive assets according to your wishes. Your will may also be contested, which costs time and money. 

You have moved to another state

Laws dictating estate planning vary from state to state. If you have recently moved but your plan is still the same, it is worth reviewing it with an attorney in your new state to make sure it is compliant. The same process must occur if you purchased property in another state, which will be subject to local rules and regulations, and not the rules present in your state of residence.