How Often Should You Update Your Estate Plan?
Many people believe that once they’ve created an estate plan, they can check it off their to-do list for good. In reality, life changes, laws change, and your goals may evolve. An estate plan should grow and adapt right along with you.
So how often should you update your estate plan? The short answer is: more often than you might think.
A Good Rule of Thumb: Review Every Year
Even if nothing major has changed, it is wise to review your estate plan at least once a year. An annual review helps ensure that your documents still reflect your wishes, your family dynamics, and your financial picture.
At Ellison Law Office, we proactively reach out to our clients every year to ask a simple but important question: “Is there anything you want to change?” Sometimes the answer is no. Other times, that annual check-in catches an issue that would have caused serious problems down the road if left unaddressed.
Life Events That Should Trigger an Update
Certain life events should always prompt a review or update to your estate plan, even if your last plan was drafted fairly recently. These include:
Marriage or divorce
The birth or adoption of a child or grandchild
The death of a spouse, beneficiary, trustee, or guardian
A significant change in your financial situation, such as buying or selling a home, starting a business, or receiving an inheritance
A change in your health or the health of a loved one
Moving to a new state
Any of these events can impact how your estate plan should be structured and who should be involved in carrying it out.
Changes in Relationships and Priorities
Not all important changes come with paperwork. Over time, relationships shift. A trustee you once trusted may no longer be the right fit. A beneficiary who once needed protection may now be financially stable.
Estate plans should reflect real life, not outdated assumptions. Regular reviews allow you to adjust your plan so it continues to align with your values, priorities, and family dynamics.
Laws Change Too
Estate planning laws do not stay the same forever. Tax laws, probate rules, and trust regulations can all change over time. A plan that was perfectly structured years ago may no longer be as effective or efficient today.
Periodic reviews help ensure that your estate plan continues to take advantage of current laws and avoids unintended consequences caused by legal changes.
Why Annual Check-Ins Matter
Many issues we see could have been avoided with a simple review. Outdated beneficiary designations, incorrect trustee appointments, or assets that were never properly aligned with the plan can lead to confusion, conflict, or unnecessary court involvement.
That is why our firm believes ongoing communication is just as important as drafting strong documents. By checking in with our clients every year, we help ensure their estate plans remain clear, current, and effective. These conversations are often quick, but they can make a lasting difference.
Your Estate Plan Is a Living Plan
An estate plan is meant to support you and your loved ones throughout your life, not just at the moment it is signed. Regular reviews give you peace of mind, knowing that your wishes will be honored and your family will have clear guidance when it matters most.
If it has been more than a year since you last reviewed your estate plan, or if something in your life has changed, it may be time to take another look. A thoughtful update today can prevent confusion, stress, and disputes tomorrow.
