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How Often Should You Update Your Ohio Estate Documents?

How Often Should You Update Your Ohio Estate Documents?
December 17, 2018 Shannon Dawes

Updating Your Ohio Estate Documents

After completion of your Ohio will and estate documents, you might be wondering how often you should review or update those documents. Some people might never need to update their documents, but it is wise to keep your estate planning in mind throughout your life to make necessary changes as circumstances permit.

Read more below about the best times to review your estate plans, and please feel free to call our Columbus, Ohio, office to ask about starting or amending your estate plans.

Important Life Events

When important events happen in your life or major circumstances change in your life, it is advisable to review your estate documents to make sure they still align with your situation. For instance, if you move, you’ll want to make sure your plans are valid under your new state’s laws.

In addition, if you have more children or a prior beneficiary passes away, you should look at your will and estate documents to make sure the people you want to receive your property are included. In this way, important life events can act as time markers for updating your will and estate documents.

Changes in Your Wishes 

At some point, your wishes about your property and beneficiaries might change. You might decide you do not want someone in your will that you previously included, or you might want to include a new beneficiary, like a charity or new family member. You also might have acquired new property that you specifically want to address in your estate documents, or you might decide you’d like to divide your property in a different way.

If anything about your wishes change, you should arrange for your documents to be updated as soon as possible. Your estate documents should always match what you currently want, so you are always sure your wishes will be honored.

Periodic Review

Even if you do not have a specific reason for amending your will and estate documents, it is a sound idea to review them periodically. During a periodic review, you might identify something you would like to change or might decide you need additional protections. Your estate plans should always be designed to work for you, so take any opportunity to ensure that is the case.

While there is no set timeframe for reviewing your estate plans, many attorneys and estate advisors would recommend about every five to 10 years. A lot of things can change in your life in a short amount of time, so plan to review your documents a few times to maintain your best interests.

To review, amend, or begin your estate planning, call Dawes Legal, LLC, today at (614) 733-9999. Experienced attorney Shannon Dawes can help you create the right set of documents or update your plans to reflect your current situations and desires.