As a citizen of Delaware who has your estate plan figured out, you are already several steps ahead of some other individuals. However, when was the last time you took a look at the plan? If you haven’t gone to re-examine it in a while, you may want to change that.
Cobizmag.com discusses several reasons as to why it it a good idea to revisit your estate plan. For example, laws might have changed since you wrote it. Are the tax laws still the same? Are marital laws the same? If you wrote your estate plan with laws that no longer exist in mind, you will need to do a re-write.
Life changes can also call for a revisit of your estate plan. This may include you moving to a different state or even out of country. You may also want to factor in any changes in family dynamic, such as a divorce or discovering that a child has special needs.
Keeping up to date with your financial situation is naturally important, too. Are you in the same financial space you were at before? Have you suffered through debt or filed bankruptcy? Perhaps the opposite is true and you have gained a recent sum of money in the form of inheritance. Regardless, if your money situation has changed, you will want your estate plan to reflect that.
Finally, ensure due diligence has been done. This means making sure assets have been properly titled, that the real estate is properly funded, and that you have made any and all necessary changes.