Once you finish the estate planning process, you may assume that you are set and that you no longer need to review these documents again in the future. However, there are many life situations that warrant a comprehensive review of your estate planning documents.

Here are a few times when you should take a second look at your estate planning documents and make necessary changes:

• Marriage or divorce: Changes in your marital status can impact how you want to divide your assets.
• Birth or adoption of a child: You may want to include new beneficiaries or adjust existing arrangements to accommodate your growing family.
• Death of a beneficiary or executor: If someone named in your estate plan passes away, you may need to designate new beneficiaries or appoint new executors or trustees.
• Changes in financial status: Significant changes in your financial situation, such as inheritance, substantial increase or decrease in assets, or starting a new business may warrant some adjustments to your estate plan.
• Relocation to another state or country: The laws governing estates and inheritances vary by different locations, so moving to a new place means you should look over your estate plan.

In addition to these life changes, you should look over your estate planning documents on an annual basis. This can ensure your documentation reflects your wishes and protects your interests in the event of your passing.