October 24, 2025
Life never stands still — and neither should your estate plan. Whether you’re just starting your career, growing a family, or preparing for retirement, your estate plan should evolve right alongside you. A plan that hasn’t been updated in years can create confusion, lead to unnecessary taxes, or even cause family disputes down the road.
Here are five key times when reviewing or creating your estate plan is absolutely essential.
1. Major Life Changes
Getting married, divorced, or welcoming a new child are all significant milestones that impact how your assets should be distributed. Similarly, if you’ve lost a loved one who was named in your will or trust, it’s time to revisit your plan.
Even a move to a new state can affect your estate plan since laws regarding wills, trusts, and homestead protections vary. A quick review ensures your documents reflect your current family situation and comply with state laws.
2. Buying or Selling Property or a Business
Acquiring or selling a home, rental property, or business can significantly change your financial picture. These events may require updates to your will, trust, or life insurance beneficiary designations.
If you’ve started a business, you’ll also want to consider succession planning — deciding who will take over or what happens to the business if something happens to you.
3. Changes in Health
A sudden diagnosis or ongoing medical concern is another important reason to revisit your estate plan. Review your healthcare directives, living will, and powers of attorney to ensure someone you trust can make medical or financial decisions on your behalf if needed.
It’s also wise to confirm that your long-term care wishes and financial protections are clear and properly documented.
4. Updates in Law or Tax Rules
Estate planning laws — both federal and state — change frequently. These changes can impact estate taxes, trust structures, and how certain assets are protected.
For example, a shift in homestead or inheritance tax laws in Florida could affect how your property transfers to your heirs. Regular reviews with an experienced estate planning attorney can help you stay compliant and maximize your protection.
5. Every 3–5 Years (Even Without Big Changes)
Even if nothing major has changed in your life, experts recommend reviewing your estate plan every three to five years. Your financial situation, family relationships, and state laws can all evolve gradually, and small adjustments now can prevent major headaches later.
For those with larger or more complex estates — such as blended families, multiple properties, or business ownership — an annual review might be even more beneficial.
The Bottom Line
Your estate plan should be a living document, not something you create once and forget about. Regularly reviewing your plan helps ensure your wishes are clear, your loved ones are protected, and your assets are distributed according to your intentions.
If your estate plan hasn’t been updated since your last major life event — or even before the pandemic — now’s the perfect time to review it with a qualified professional. Laws change, families grow, and circumstances shift, but your peace of mind should always stay strong.
