Recently, Money magazine ran a story, "Rethinking your Estate Plan." It offers basic information and considerations, especially in light of the current economic environment and tax code.

You don't have to be a millionaire to worry about leaving a smaller legacy than you'd hoped - if you can leave one at all. According to estimates by the Federal Reserve, average household net worth dropped nearly 23% from a survey period starting in May 2007 to October 2008. That happened just as many Americans began feeling more pressure to help their kids who are struggling in this rotten economy.

To counter the uncertainty of the economy and build some reassurance in the future, the article suggests looking at charitable giving, estate tax consequences, how your plan to distribute your estate, whether a trust is a suitable option, and the frequency of reviewing and updating your plan.

By way of self-serving note: the article suggests you work with an attorney and "contact your attorney every three years or so and ask whether your plan needs updating."