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The Importance of Periodic Reviews of Estate Plans

Allegis Wealth Advisors

Allegis Wealth Advisors provides client-driven asset management and risk services that take into consideration individual objectives and timeframes. One aspect of the equation that Allegis Wealth Advisors emphasizes is long-term asset building through its Wealth Building Cornerstones program.

Periodic reviews are part of a well-defined Allegis Investment Advisors estate plan, as life circumstances and goals inevitably change over time. Particularly following major life events, it makes sense to evaluate the way in which property and assets are distributed in the event of incapacity or death. Additionally, changes to tax codes and shifting economic trends can necessitate new approaches to estate planning.
Common changes that occur include naming a new trustee, executor, or guardian in cases where the individual so named passes away or changes his or her mind about serving in that capacity. Also, in a number of states, a marital status change results in revocation of all or part of the will.
Spousal death or incapacitation is another trigger of a periodic review, and it makes sense to plan ahead for the possibility of one’s own incapacitation. In tandem with an experienced investment professional, set up a protocol for the management of medical decisions and health care that reflects individual preferences.

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