Why Updating Your Estate Plan Is More Important Than Ever

You created an estate plan years ago, checked it off your to-do list, and filed it away. That's understandable—estate planning isn't exactly something most people enjoy thinking about. But here's the reality: that plan you created five, ten, or twenty years ago may no longer reflect your life today. And if it doesn't, it could create serious complications for the people you love most.

Estate planning isn't a one-and-done task. Whether you're a new parent, have children heading to college soon, are approaching retirement or already enjoying your golden years, understanding when and why to update your estate plan can save your family from confusion, conflict, and unnecessary expenses.

Marriages, divorces, births, deaths, a move to a new state and changes in health and/or mental capacity all can have an impact who should benefit from your estate and who should make decisions on your behalf. Maybe you named your sister as healthcare power of attorney fifteen years ago, but she has now moved away. Perhaps you've welcomed grandchildren you want to provide for, or one of your adult children has developed challenges that make a direct inheritance problematic.

Blended families present particularly complex challenges. Without proper planning, your assets could be distributed in ways you never intended—potentially cutting out children or leaving a surviving spouse without adequate support.

Your financial landscape likely bears little resemblance to what it was when you first created your estate plan. Perhaps you've accumulated significant retirement savings, sold a business, inherited money, or purchased investment properties. For baby boomers, this is particularly relevant as you transition from accumulating wealth to distributing it.

If you own property in multiple states, you need proper planning to avoid complicated probate proceedings. Business ownership requires clear succession planning to prevent operational disruptions that could harm the business's value.

The people you designated to handle your affairs may no longer be appropriate choices. Your executor might have moved away or developed health problems. If you named peers as trustees decades ago, they may now be in their seventies or eighties themselves. Your family doesn't want to discover these issues after you've passed away or become incapacitated.

An outdated estate plan is also a recipe for family disputes. When documents are unclear or obviously out of touch with current circumstances, beneficiaries are more likely to challenge them. By keeping your plan current and clearly documented, you reduce ambiguity and demonstrate that your wishes are thoughtful and intentional.

Review your estate plan every three to five years, even if nothing major has changed. However, certain life events should trigger an immediate review: marriage or divorce, births or deaths in the family, significant financial changes, moving to a different state, health changes, retirement, or the sale of a business.

Don't wait for a crisis to prompt action. Schedule a review with your estate planning attorney now, while you have the time and mental clarity to make thoughtful decisions. Bring your existing documents, a list of your current assets, and information about any life changes since your last update.

 Updating your estate plan isn't about dwelling on mortality—it's about taking control of your legacy and protecting the people you love. It's about ensuring that the life you've built and the values you hold dear are preserved according to your wishes.



Give yourself and your loved ones the peace of mind that comes from knowing your affairs are in order, your wishes are clear, and your legacy is secure. The time you invest in updating your estate plan today will save your family countless hours of stress and confusion when they need clarity most.