One of the more common questions I get: when should I think about updating my estate plan?
It’s an important question, and the answer is simultaneously simple and complex.
Simple answer: a review of one’s estate plan should accompany all major life events.
So…what qualifies as a “major life event”?
Probate is difficult enough under the best of circumstances. It’s a lot of confusing paperwork, back and forth with the Surrogate’s Court, and months of delay before an executor is finally empowered to act on behalf of an estate. When an estate includes real estate, the problem is amplified.