Process Review As with any financial strategy, whether it is a retirement plan or a succession plan, the risk management plan must be assessed and reviewed regularly. Changes are inevitable. Therefore, decisions made regarding the following points must be reviewed periodically:In general, the assessment and adjustment of a risk plan should be done each year. Financial and family changes may trigger new circumstances that should be contemplated in a risk plan.
- Risk rejection may have increased or decreased.
- There may be new or different risks.
- Certain risks may have been overlooked in the first evaluation.
- Attempt to identify prior errors.
- Analyze any changes in your financial situation.