Updating Your Estate Plan: When and Why It Matters
An estate plan isn’t meant to be a “one and done” document. Life changes—and when it does, your will, trust, and other planning documents should change with it. Updating your estate plan regularly ensures your wishes are carried out the way you intend, no matter what life brings.
When to Update Your Estate Plan
You don’t need to rewrite your plan every year, but there are key milestones and life events that should trigger a review:
Marriage or Divorce – Spouses and ex-spouses may need to be added or removed from your plan.
Children or Grandchildren – Births, adoptions, or blended families often require updates to guardianship and inheritance provisions.
Significant Financial Changes – Buying a home, starting a business, or receiving an inheritance can shift how you want assets handled.
Moving to Another State – Estate laws differ, and what works in one state may not be valid in another.
Health Changes – Serious illness or disability may prompt updates to healthcare directives or powers of attorney.
Changes in Relationships – Falling out with a named executor, trustee, or agent may mean it’s time to choose someone new.
Why Keeping Your Plan Current Matters
Failing to update an estate plan can cause confusion, delays, or unintended outcomes. Outdated documents may:
Leave assets to people you no longer wish to benefit.
Fail to name the right guardians for your children.
Create conflicts among surviving family members.
Overlook tax or legal changes that affect distribution.
By reviewing your plan periodically, you ensure it reflects your current goals, family structure, and financial reality.
How Often Should You Review Your Plan?
A good rule of thumb is to review your estate plan:
Every 3–5 years as a routine check-in
Any time a major life event occurs (marriage, divorce, children, move, major financial change)
Even if nothing has changed, laws can evolve. A brief review ensures your plan stays compliant and effective.
Final Thought
An estate plan is one of the most important gifts you can leave your loved ones. By keeping it updated, you provide clarity, reduce conflict, and ensure your wishes are honored. Life changes—your plan should too.
