How Often Should You Update Your Estate Plan? Key Triggers to Watch For

One of the most common estate planning mistakes isn't failing to create a plan — it's creating one and never looking at it again.

Estate plans are not set-it-and-forget-it documents. They're living arrangements that need to evolve as your life evolves. A will written when your children were young may be completely inadequate when they're adults with children of their own. A trust funded with assets you've since sold needs to be revised.

As a general rule, review your estate plan every three to five years even if nothing has changed. But certain life events should trigger an immediate review:

Marriage or divorce. Both completely change your estate planning landscape — who inherits, who has authority, and what documents need to say.

Birth or adoption of a child or grandchild. New family members may need to be added as beneficiaries or considered in trust distributions.

Death of a named person in your plan. If your executor, trustee, guardian, or beneficiary dies, you need to name a replacement.

Significant change in assets. A business sale, inheritance, or major market gain can change your estate tax exposure and your planning needs.

Relocation to a new state. State laws vary significantly. Moving requires a review to ensure your documents comply with your new state's requirements.

Change in tax law. Estate tax exemptions, gift tax rules, and retirement account rules all change over time. Legislative changes may require adjustments to your strategy.

Health changes. A serious diagnosis may add urgency to your planning — or change how you want your healthcare directives structured.

The cost of updating an estate plan is far less than the cost — financial and emotional — of a plan that no longer reflects your life.

📌 When was the last time you reviewed your estate plan? If it's been more than three years, it's time. Contact us to schedule your review today.