Some people in Colorado might execute a will or trust, and then consider the matter open and shut. However, estate planning is truly an ongoing process. There are many reasons why it is good to review your estate plan periodically, to ensure it still meets your needs and wishes, as well as the needs of your loved ones.
One reason to review an estate plan is if you move out-of-state. Each state has its own laws with regards to estate planning. For example, some states make it mandatory that a surviving spouse inherits a certain amount of their partner's estate. In addition, certain states still impose an inheritance tax or an estate tax on residents. If you move to a state with different estate planning laws than the state you executed the estate plan in, it may be time to review your estate plan to account for these differences.