Estate planning is an ongoing process, and it’s essential to review and update your plan after major life changes.
Many people treat estate planning as a one-and-done task. You sign the documents, put them in a safe, and forget about them. However, an estate plan is a living document that must evolve alongside your life. Major life events can render an old estate plan ineffective or even detrimental to your current wishes.
Key life events that necessitate an estate plan review include marriage, divorce, the birth or adoption of a child, the death of a beneficiary or executor, and significant changes in your financial situation. Moving to a new state also requires a review, as estate laws vary significantly across jurisdictions.
We recommend reviewing your estate plan every three to five years, or immediately following any major life transition. Proactive updates ensure that your assets are protected, your designated guardians are still appropriate, and your legacy is preserved exactly as you intend.