Yes, you do, and here’s why… Please allow us to be frank. It’s unrealistic to think that a piece of paper you draft, reflecting your life at a certain time, will work when you life has completely changed some years later. We’ll use the (fictional) Kendrick family as an example: Meet the Kendricks… Meet Bill…
There are several reasons why you should update your existing trust or perhaps your entire estate plan. While estate planning documents do not necessarily have a shelf life, they may not fulfill your goals when your circumstances change. Of course, having estate planning documents that are up-to-date is critical, but how do you know when…