Planning for the future and securing our legacy is something that many of us think about. We want to ensure that our assets and possessions are distributed according to our wishes after we're gone. That's where trust and will reviews come in. A trust and will review is a crucial step in the estate planning process that helps ensure that your wishes are carried out and your legacy is protected. In this article, we will explore the importance of trust and will reviews and why you should consider reviewing your estate plan regularly.

What is a Trust and Will Review?

A trust and will review is the process of evaluating and updating your estate plan, including your trust and will documents. This review typically involves examining the beneficiaries, assets, and provisions of your documents to ensure that they still align with your current wishes and intentions. It is important to review your trust and will periodically to ensure that they reflect any changes in your personal or financial circumstances.

Why is a Trust and Will Review Important?

There are several reasons why a trust and will review is important. Let's explore some of the key reasons:

How Often Should You Review Your Trust and Will?

The frequency of trust and will reviews may vary depending on your personal circumstances. However, as a general guideline, it is recommended to review your trust and will every two to three years. Additionally, you should also consider reviewing your estate plan if any major life events occur, such as the birth of a child, a divorce, or a significant change in your financial situation.

Conclusion

Trust and will reviews play a crucial role in securing your legacy and ensuring that your wishes are carried out. By regularly reviewing your estate plan, you can adapt to changing laws, protect your legacy, address changes in family dynamics, and maximize tax efficiency. It is important to work with a trusted professional who specializes in trust and wills to guide you through the review process and ensure that your estate plan reflects your current wishes and intentions.