When should I review my EPOA/Advanced Health Directive? It’s important to understand that estate planning goes beyond having a will in place. EPOAs and Advanced Health Directives provide additional protection for yourself, your family, and your assets if you become incapacitated. Reviewing these documents regularly is essential to ensure they accurately reflect the decisions you would make in any event.
Reviews of these documents should be done at least every three years or when there are significant changes in life circumstances, such as marriage or divorce, birth of children, moving interstate, etc. Additionally, it’s recommended that reviews are done after certain age milestones: 18-21 years old; 35-45 years old; 65+ years old. At each milestone, one should take the time to assess their personal situation and update their documents accordingly.
It’s also wise to have someone else review your documents with you – like a trusted friend or financial advisor – to help identify any areas where changes may need to be made. Remember that having an up-to-date EPOA/Advanced Health Directive can save you and your loved ones from unnecessary stress down the line. Taking the time now could make all the difference later on.
