How Often Should I Prepare a New Will?

Any time circumstances in your life change substantially, your estate plan should be revised. Such changes include marital status, ownership or value of property, birth of a child, tax laws, income or employment status, business ownership, and relocation. At a minimum, you should have your estate plan reviewed every three to five years. You should also keep your affairs in order and maintain an inventory of all your property. Take some time to educate your executor about the property and where you keep your inventory.