Estate Plan Annual Review
Meurer & Potter Law Office, Denver, Colorado
An estate plan is not a set-it-and-forget-it document. Life changes. Laws change. An estate plan that was perfectly drafted five years ago may be dangerously outdated today. At Meurer & Potter, P.C., we offer estate plan annual review services to ensure your wills, trusts, powers of attorney, and beneficiary designations still reflect your current wishes and comply with current Colorado and federal law.
We’ve been reviewing and updating estate plans for Denver-area families since 1991. Our review process catches problems before they become crises—outdated beneficiaries, newly enacted tax laws, changed family circumstances, and documents that no longer accomplish what you intended.
When was the last time you reviewed your estate plan? Call 303-991-3544.
When to Review Your Estate Plan
At a minimum, review your estate plan every three to five years. Review immediately after any of the following: marriage or divorce, the birth or adoption of a child or grandchild, the death of a beneficiary, executor, or trustee, a significant change in assets (inheritance, sale of a business, property purchase), a move to or from Colorado, a change in health status or long-term care needs, a change in federal or Colorado estate tax or trust laws, or retirement. Any one of these events can render your existing plan incomplete, contradictory, or ineffective.
The Cost of Not Reviewing Your Estate Plan Regularly
We regularly see families dealing with the consequences of outdated estate plans: an ex-spouse who is still listed as the primary beneficiary on a life insurance policy, a deceased person named as executor with no successor, a trust that was never funded with the family home, or a will drafted under a prior state’s laws that doesn’t comply with Colorado requirements. Each of these situations creates legal complications, delays, and costs that a simple review would have prevented.
Serving Denver and Colorado’s Front Range
Our office is located in Greenwood Village at 5347 South Valentia Way, near the Denver Tech Center. We serve clients throughout the Denver metro area, including Centennial, Highlands Ranch, Littleton, Parker, Lakewood, Arvada, Aurora, and Boulder, as well as Colorado Springs and communities along the entire Front Range.
Frequently Asked Questions About Estate Plan Annual Reviews
Insights to help you make informed decisions about Estate Plan Reviews
Our FAQs offer practical guidance about estate plan annual reviews. They are written to help you stay informed, not overwhelmed.
Every three to five years at minimum, and immediately after any major life event such as marriage, divorce, birth of a child, death of a named person in your plan, significant asset changes, or a move to a new state.
Review costs depend on the complexity of your existing plan. A straightforward review of a will-based plan is typically a few hundred dollars. A comprehensive review of a trust-based plan with multiple documents may cost more. We discuss fees during your consultation.
You can read through your documents, but a legal review by an experienced estate planning attorney is essential to catch issues you would not recognize such as changes in Colorado law that affect your trust’s tax treatment or beneficiary designation conflicts that override your will.
Depending on the scope of changes needed, we may draft a codicil (amendment) to your will, an amendment or restatement of your trust, or entirely new documents. We recommend the most cost-effective approach based on your situation.