Estate planning is a critical process that needs to be taken seriously. It ensures that your assets are distributed according to your wishes and that your loved ones are protected. While it may be tempting to create an estate plan and forget about it, it is important to review and update it regularly. Here are reasons why you need to keep your estate plan up-to-date:

8 Reasons Why You Need to Keep Your Estate Plan Up-to-Date

1. Changes in Your Family Situation

Changes such as marriage, divorce, birth, or death of a family member can significantly impact your estate plan. Updating it will ensure that your assets are distributed according to your current wishes.

2. Changes in Your Financial Situation 

Your financial situation may change over time. Reviewing your estate plan regularly will help ensure that your assets are distributed in a way that meets your current financial needs.

3. Changes in the Law

Estate planning laws can change frequently, and it is essential to keep your estate plan up-to-date to ensure that you are aware of any changes that may impact your plan.

4. Changes in Your Health

Your health can change at any time. You may need to update your estate plan to ensure that your medical wishes are followed and that you have designated someone to make decisions on your behalf if you are unable to do so.

5. Changes in Your Business

If you own a business, changes in ownership or structure can impact your estate plan. Reviewing it regularly can ensure that your business interests are protected.

6. Changes in Your Relationships

Your relationships with beneficiaries or other individuals named in your estate plan may change over time. Updating your plan will ensure that your beneficiaries are current and accurate.

7. Changes in Your Location

If you move to another state, you may need to update your estate plan to ensure that it complies with that state’s laws.

8. Peace of Mind

Keeping your estate plan up-to-date can give you peace of mind knowing that your wishes will be met and your assets will be protected.

If you are looking for an experienced estate planning attorney, Cronin Skilton & Skilton, P.L.L.C. can help. Their attorneys can help you review and update your estate plan to ensure that it meets your current needs. Contact them today at (641) 435-2462 for a consultation or visit their website to learn more. They have two convenient locations in Nashua and Charles City, Iowa, and are available to assist you with all of your estate planning needs.