How often should you update your will and other beneficiary designations?
A good rule of thumb is to review your will and beneficiary designations every three years. If any of the following has happened in your life since your last review, it may be time to consider an update:
- Change of job status
- Relocation to a different state
- Birth or death in the family
- Marriage or divorce
- Significant change in your net worth
- Purchase or lapse of life insurance
- Tax law changes that affect your assets
If it’s time to update your will, do it now. A small investment of time now will help ensure your loved ones are well taken care of after you are gone.
If charitable bequests are part of your plan, Cincinnati Children’s would be glad to consult with you and your advisors (at no obligation) to find the best method of accomplishing your wishes.
Do you have a question about your planned giving options? Email Karen at firstname.lastname@example.org.