A couple of comments on the thread so far ...
First, normal DOT 3, 4, and 5.1 brake fluid is hygroscopic. That means that it absorbs water and combines easily with it, to a point. This is the biggest reason to change out the fluid. It's also the reason that no special washing or rinsing measures are needed. Brake fluid rinses away with water. If you wash your hands normally, it's gone.
If you leave the fluid in the system long enough, water WILL infiltrate through the vented cap. Excess water that can't be absorbed by the fluid can separate and collect at the lowest points. That's at the piston bores at the calipers. There, it forms rust and the piston can seize up because of the rust. This calls for a rebuild or replacement. If you're lucky, you'll discover the problem before the next thing happening ...
The other thing this water can do is boil when you get it hot enough. That reduces your braking to ZERO. Trust me; I've been there. Boiled water/steam is NOT a reasonable substitute for hydraulic fluid.
Now, consider the synergy of those two issues. A piston that's sticking in the bore will hold the pad(s) against the disk surface. That pad against the surface will get VERY hot. That heat will boil the water in the system. It may even boil the brake fluid, which will have a lower boiling point because of the absorbed water. Then, you have NO BRAKES.
Finally, I'll mention that most HPDEs (High Performance Driving Events, such as the BMW club event I'll be instructing this weekend) REQUIRE that the brake fluid be less than a year old before you're allowed on track. The reasons above are why.