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Things change. Especially after you've completed an estate plan. Children and grandchildren are born, parents and spouses die, and, values in investment accounts take a nose-dive.
What do you need to do:
1. Keep an eye on who you've designated as beneficiaries on investment accounts. If you want your grandchildren to inherit an account, make sure they are designated properly and are all accounted for.
2. Update your legal documentation. Because the values of investment accounts have declined so drastically, make sure that your estate plan logic is still supported by the plan. For example, if you wanted your grandchildren to receive a certain sum, say for education, or a certain percentage of your estate, make sure the values of the assets left to them achieve the desired result.
3. Make sure the division of assets in trusts still accomplish the desired result.
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