There is no better feeling than knowing that you have a comprehensive estate plan in place to protect you and your loved ones. However, don’t assume that this is the last you’ll ever think about your estate plan.

There will be many times throughout your life when you need to review your estate plan and possibly make changes. Here are some circumstances that should call for you to take a closer look:

  • Marriage or divorce: Either one of these are a life-changing event, so make sure you promptly review your estate plan. For example, if you get married, you may want to alter your estate plan so that your spouse receives everything upon your death.
  • Change in assets: Typically, this comes into play if you add a valuable asset to your estate. This could be the result of winning the lottery, receiving an inheritance or collecting a big bonus at work.
  • New addition to your family: If you have a child or adopt a child, it will likely call for changes to your estate plan. This holds true both with who receives your assets upon your death, as well as naming a guardian for any children under the age of 18.
  • Major medical changes: For instance, if you’re diagnosed with a serious illness, review your estate plan with an eye toward your health care power of attorney. This document allows you to name an agent to make medical decisions on your behalf.
  • As time passes: You don’t have to face life-changing circumstances to review your estate plan. As the years go by, get into the habit of reviewing your estate plan for changes. If possible, set a month each year during which you carefully review your estate plan. This allows you to get into the habit of doing so.

These are the types of situations that typically call for you to review your estate plan. And depending on what you find, there’s a very good chance that you’ll also need to modify some of its terms and conditions.

As long as you’re on board with the idea of making changes as necessary, you’ll always feel confident in the estate plan you have in place.