How should you review your estate plan?

When working on your estate plan review, it is easy to feel overwhelmed. After all, your estate plan took years to create and refine. Many people also mistakenly believe that they must do a full review every time.

But this is not the case. If you are just doing a regular review as experts suggest you do every three years, you can skip the heavy detail work and make the process a lot easier.


Forbes discusses which parts of your estate plan to review first. There is a focus on both the people in it, and the assets. In terms of people, you want to focus on beneficiaries and active figures. Beneficiaries include anyone who has something to gain from your estate. This may include anyone you write into your will. It also includes people who will gain something from your trust. Do not forget people who share joint bank accounts with you and those who you have in your life insurance policies, either.

Active figures

Active figures will play an active role in your end of life stages. This often includes people like a power of attorney or a healthcare proxy. They step in and handle medical choices and financial issues for you if you end up incapacitated for any reason. Needless to say, you want these people to be on good terms with you and have your best interest in mind, so you should always review them first.

As far as finances go, you want to ensure your estate plan accurately reflects your current financial state. This means updating information about your trust and will when necessary.

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