10 Life Events That Signal It’s Time to Review Your Estate Plan - Part 2
Keep Your Estate Plan Current with Life's Changes
You might think that estate planning is a one-time task that can be checked off your to-do list. However, to ensure your estate plan works effectively as your life changes, it needs to be updated regularly.
It's wise to review your estate plan with your attorney every three years, or sooner if major life events occur. This ensures that any significant changes in your life are reflected in your plan.
Significant Life Changes and Your Estate Plan
Last week, we discussed several life changes that could impact your estate plan. Here are five more events that signal it's time to review your plan:
06 | Serious Illness or Injury
A sudden illness or injury can incapacitate you, leaving you unable to manage your affairs. It’s crucial to review your estate plan to ensure it includes Powers of Attorney for healthcare and finances. These documents allow you to designate someone you trust to handle your bills, manage your assets, and make medical decisions on your behalf if you are unable to do so.
Including healthcare directives that outline your medical preferences—such as dietary restrictions, religious beliefs, or limits on certain treatments—ensures your Power of Attorney can make decisions that align with your wishes.
07 | Relocating from Another State
Each state has its own estate planning laws and regulations. If you’ve moved from another state, it’s essential to have your plan reviewed by a local attorney. Differences in how an estate plan is signed, witnessed, or processed can lead to delays and complications. Updating your plan to comply with local laws ensures it will be effective when needed.
08 | Getting Married
Marriage brings joy and important legal updates. Your estate plan should reflect your new marital status. Some states automatically grant your spouse co-ownership of property, while others do not. To ensure your assets transfer smoothly to your spouse in the event of your death or incapacity, update beneficiaries and make arrangements for shared assets. Consider provisions to protect your spouse financially and emotionally.
09 | Divorce
Divorce is a significant life event that requires immediate attention to your estate plan. After a divorce, you’ll likely need to revoke and redo your entire plan. This includes creating a new Will and Trust, updating beneficiary designations on life insurance and retirement accounts, and revising asset distribution. If you have children from the marriage, revisit guardianship arrangements and financial provisions for them.
10 | Changes in the Law
Estate tax laws can change, impacting your estate plan. If federal or state tax laws are revised, review your plan with an estate planning attorney to minimize tax burdens and protect your wealth. Upcoming changes in federal estate tax law in 2026 make it essential to review whether your family's estate tax filing status will be affected. Proper planning can help avoid substantial tax liabilities.
Stay Prepared Through Life's Changes
Your estate plan is a foundation for protecting your family and finances, both now and in the future. It should evolve with your life changes.
To keep your estate plan current and effective, consider a complimentary review every three years. If you have questions or need to update your plan due to life changes, reach out. Creating an estate plan that protects your loved ones and legacy is an honor, and I am here to help ensure your family's well-being for years to come.
Click on my scheduling link below to get started. I can’t wait to hear from you.
This article is a service of Zarda Law, S.C. We do not just draft documents; we ensure you make informed decisions about life and death, for yourself and the people you love. That's why we offer Legacy Planning Session, during which you will get financially organized and make all the best choices for the people you love. You can begin by scheduling a Legacy Planning Session and mention this article to find out how to get this $750 session at no charge.
