You might want to review your will when….
- There’s a birth or adoption of a child, grandchild or other family member
- After a marriage or divorce
- A person named in your will passes away
- Your children, grandchildren or other heirs reach adulthood
- There are changes in your executor, guardian, and/or trustee’s circumstances
- The value of your estate significantly increases or decreases
- You are starting a business
- There are changes in tax laws
- You are approaching age 70 1/2(when you are required to begin taking distributions from your IRA, 401(k) or other qualified plan)
- You move to a different state
- There’s a diagnosis of a chronic or terminal illness
Consult your estate planning lawyer.