Are your children now mature enough to help manage your estate?

Perhaps you had set up an older estate plan to protect your family when your children were very young. Turning the clock forward, those children are now responsible adults and capable of assuming responsibilities that you had previously reserved for your parents or siblings. An estate plan consists of documents that generally can be updated to reflect your current life situation. Perhaps as your children have grown, so has your net worth, which presents an additional planning opportunity to address estate taxes.