Updating Trusts

Be sure you update your trust whenever there is a life-changing event, such as a remarriage or a birth of a grandchild or, God forbid, a divorce. Otherwise revisit your trust every three to five years to ensure that it's up to date.

This is tricky stuff, so don't go it alone—and no "do it yourself" kits. It's well worth the money to have an experienced estate-planning attorney help you set up an estate plan that is best for you and your family.