Frankel Devlin, LLC

Update Estate Plan Every 5 Years

You should plan to schedule a meeting to meet at least every five years to review your estate plan. The reason for doing so is to: (1) ensure that your assets are owned in a manner that will optimize your estate plan; (2) ensure that your current estate plan still makes sense for you in light of your net worth and the current status of the federal and state estate tax laws; (3) update your health care proxies and powers of attorney; (4) ensure that your named fiduciaries (executors, trustees, attorneys-in-fact, and health care agents) are still living and are still the appropriate candidates to serve in this capacity, and (5) ensure that your overall estate plan still makes sense for your family and other loved ones based upon any changed circumstances that may affect your beneficiaries.


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