If any of the following events occur, you should review the potential effect on your estate plan to determine whether it should be amended or revised in its entirety.  This list is not all-inclusive…

Changes in Family Relations

·        Dissolution of marriage (divorce)

·        Death of a spouse

·        Marriage of a single person

·        Changes regarding children, grandchildren, or other beneficiary:

ü     Birth of a child

ü     Marriage of a child

ü     Dissolution of the child's marriage

ü     Adoption of a child

ü     Illness of a child

ü     Economic change (good or bad fortune)

ü     Attitude change toward testator

ü     Financial irresponsibility

Changes in Economic and Personal Condition of Testator

·        Asset values – increase or decrease

·        Change in insurability – life insurance

·        Change in employment

·        Change in business interests

·        Property acquired in a different state

·        Change in health of testator or spouse

·        Retirement from business or profession

External Changes

·        Change in laws: state and federal income, estate, and gift tax; trust; probate

·        Change in residence to different state

·        Death of personal representative, trustee, or guardian