Regular Review of the Estate Planning Arrangement

Life circumstances change, interpersonal relationships evolve, and laws are amended. Regularly reconsider whether your estate planning arrangement (will, inheritance agreement) still reflects your last wishes.

The world is changing, your life is changing, and the lives of those around you are changing. What is true today may be entirely different tomorrow, or may no longer be relevant. Your last will is also subject to change. Therefore, it is advisable to review it periodically, approximately every five years.

Reviewing the Estate Planning Arrangement

If your arrangement is simple or you possess a particular expertise in inheritance law, you can easily review your last will yourself. However, once your last will includes more complex provisions, I recommend having it reviewed, possibly with the assistance of a professional. Ideally, consult a specialist lawyer in inheritance law who is also a notary.

In Case of Need for Action

If you identify a need for action, there are particularly the following (non-exhaustive) options available:

• Supplementing the existing last will
• Amending the existing last will
• Revoking the existing last will
• Appointing or dismissing an executor
• Contractual agreements concerning marriage
• Lifetime arrangements (e.g., gifts, property purchases, etc.)
• Lifetime arrangements regarding the obligation of equalization

Again, I especially advise involving a professional in the case of more complex arrangements. However, it may also be beneficial to consult a professional even for arrangements that seem straightforward to you. They may be able to present you with interesting estate law constructs that you are not aware of, whose benefits you may not recognize, or that could better reflect your last wishes. Here, too, I recommend consulting a specialist lawyer in inheritance law who is preferably also a notary.

Looking Beyond the Horizon

When reviewing or establishing a (new) arrangement, strive to think beyond the immediate situation, meaning try to anticipate possible changes. You should also consider statistically less likely scenarios. By planning for various scenarios, your last will becomes less vulnerable to changes in the "environment." Here, a professional with experience and expertise can provide significant assistance.

Do You Wish or Need Support in Reviewing Your Estate Planning Situation?

We are happy to assist you as specialist lawyers in inheritance law and notaries with the necessary expertise and required experience.

Lucerne, March 3, 2021

Simeon Beeler