In this California estate planning blog, we've written many posts about the importance of having an estate plan and of not postponing the estate planning process. But the process isn't necessarily over when the will or trust has been drafted, signed and witnessed. Every estate plan should be reviewed periodically to make sure it is up to date, and still reflects the testator's wishes.
There is no set rule as to how often an estate plan should be reviewed. Some financial advisors suggest a thorough review at least every five years. Those with large estates may want to do an annual review. More importantly, an estate plan should be reviewed whenever there has been a major change in the law or the testator's life.