Are you getting married, having a baby, starting a business, coping with the death of a spouse, buying a house or vacation home? Any major change in your life or circumstances should trigger an estate plan review. Scheduled reviews, even when life is unvarying and predictable, are another good idea.

Although there's no hard-and-fast rule about when you should review your estate plan, the following suggestions may be of some help:

• You should review your estate plan immediately after a major life event
• You'll probably want to do a quick review each year because changes in the economy and in the tax code often occur on a yearly basis
• You'll want to do a more thorough review every five years

Reviewing your estate plan will not only give you peace of mind, but will also alert you to any other changes that need to be addressed.

Typically, there will be no need to revise your current plan. However, there will be times when you'll need to make changes to your plan to ensure that it still meets all of your goals. For example, an executor, trustee, or guardian may change his or her mind about serving in that capacity, and you'll need to name someone else.

Other reasons you should do a periodic review include:

• There has been a change in your marital status (many states have laws that revoke part or all of your will if you marry or get divorced) or that of your children or grandchildren
• There has been an addition to your family through birth, adoption, or marriage (stepchildren)
• Your spouse or a family member has died, has become ill, or is incapacitated
• Your spouse, your parents, or other family member has become dependent on you
• There has been a substantial change in the value of your assets or in your plans for their use
• You have received a sizable inheritance or gift
• Your income level or requirements have changed
• You are retiring
• You have made a change in your estate plan (e.g., you created a trust or executed a codicil to your will)