Is estate planning something to do just once?

Written By David Frundt

Estate planning cannot be done once and then forgotten about. Your life can change, tax laws change, and tomorrow’s needs may not be the same as today’s. Your plan is too important to let it become obsolete. It is a good idea to review your plan annually to identify what and when any action may need to be taken.

Some events may trigger a revisit more frequently:

  • Significant increase or decrease in estate value

  • Birth or death of a family member

  • Marriage or divorce

  • Change in job or job status

  • Moving to a new state

  • Death of a spouse

  • Change in asset structure

David Frundt
Previous

Minnesota Gift & Estate Tax Changes - Effective July 1, 2013
Next

What if I have assets in excess of $1 million?