I typically recommend a self-review of an estate plan every five years. Changes in tax laws, adoption by states of powers of attorneys and health care power of appointments mean a plan put into place even in the early 90s might be ineffective or worse.
The New York Times published a little reminder that its a good idea to check on your plan before the estate tax laws change.
Even better, check on it now. Documents drafted more than 5-10 years ago may not comply or deal with new laws: living wills that don't address the Health Insurance Portability and Accountability Act (HIPAA) , powers of attorney which don't comply with state statutes, and even worse, trusts which don't take into account the decoupling of the Connecticut Estate tax exemption from the federal exemption. More on that to come in future posts.
