When Should You Revisit Your Estate Plan
While a good rule of thumb is to review your estate plan every three to five years, there are also major life events that should give you reason to revisit these things as well.
While a good rule of thumb is to review your estate plan every three to five years, there are also major life events that should give you reason to revisit these things as well.
Here's what you need to know.
Wealthy families often take every precaution in preserving their legacies for future generations, with carefully constructed estate plans, wills and trusts. But they often overlook something that can undermine all these plans, and it isn’t investment returns or poor estate planning: It’s family dynamics. Studies have shown that the main reasons wealth fails to transition successfully across generations have little to do with making sound financial decisions – and much more to do with how the family interacts with each other.
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