How Often Should You Review Your Estate Plan?

Becky Cholewka:  I always like assigning homework to my clients. It’s fun for me, because it’s something that somebody else has to do instead of me. One of the things of homework that I always assign is to make sure that my clients pick an important date, some date that they will remember, an anniversary, or a birthday, or a certain holiday.

On that particular date, I encourage them to take out their estate planning binder, take a look at who they have left as decision makers, who are their backup people that they have put into place to make sure that they are being helped in a crisis situation, like a healthcare power of attorney or a financial power of attorney.

Once a year, take that out, and just review it, and make sure it’s still who you want to act for you. For example, you may have listed your brother in law as a backup healthcare power of attorney for yourself. Maybe, your sister has since gotten divorced from that brother in law, and now you want to change who that is. That would be one reason to take a look at updating your documents.

Another thing to take a look at is who you’ve left your money to and if that’s still what you want. For example, maybe, you now have grandchildren, and you want to now provide for a college education for them.

We can happily do that for you, but you need to give us a heads up that you need to make some changes so that we can invite you back into our office to do some amendments to your plan. So give us a call at 480‑497‑3770, or you can always check out our website at if you need help with that. Again, make sure that you are keeping your documents up to date, take a look at them once a year just to make sure that the people that you’ve listed are still who you want.


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