How do we update the asset lives of Asset Categories

Summary:

We are looking to update the asset lives of Asset Categories, how do we do that and how do we make sure that any assets using the asset category do not have their depreciation schedule retroactively updated?

Content (please ensure you mask any confidential information):

Version (include the version you are using, if applicable):

Code Snippet (add any code snippets that support your topic, if applicable):